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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 326,069 $ (250,616)
Adjustments to reconcile net loss to cash flows from operating activities:    
Stock-based compensation 53,871 78,453
Depreciation and amortization 21,003 20,818
Non-cash interest expense 19,006 2,602
Non-cash inventory write-downs for obsolescence 11,599 0
Reduction in the carrying amounts of the right of use assets 6,322 7,956
Loss on strategic investments 2,160 54,007
Accretion of investment discount, net (1,435) (3,778)
Other (1,298) 701
Changes in operating assets and liabilities, net:    
Decrease (increase) in accounts receivable 21,409 74,693
Decrease in manufacturing-related deposits and prepaids 69,279 68,869
Increase in inventory (29,845) (236,548)
Increase in other assets 67,840 (37,258)
Decrease in deferred revenue (307,043) (59,825)
Decrease in accounts payable (229,859) (77,740)
(Decrease) increase in accrued expenses (37,331) 20,160
(Decrease) increase in lease liabilities and other liabilities 2,640 15,406
Net cash used in operating activities (5,613) (322,100)
Cash flows from investing activities:    
Purchase of investments (351,045) (45,084)
Maturity and sales of available-for-sale securities 126,919 109,384
Purchase of property and equipment (2,636) (75,447)
Purchase of intangible assets (1,000) (2,000)
Acquisition of strategic investments 0 (245,819)
Net cash provided by investing activities (227,762) (258,966)
Cash flows from financing activities:    
Proceeds from exercise of stock options and purchase of stock under the Employee Stock Purchase Program 241 17,181
Proceeds from borrowings under the Revolving Credit Facility 425,000 0
Repayments of borrowings under the Revolving Credit Facility (425,000) 0
Repurchases of common stock 0 (25,013)
Payments related to obtaining Revolving Credit Facility 0 (3,514)
Net cash provided by financing activities 241 (11,346)
Decrease in cash, cash equivalents and restricted cash (233,134) (592,412)
Cash, cash equivalents and restricted cash:    
Beginning of period 814,407 1,118,589
End of period 581,273 526,177
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 571,148 510,598
Restricted cash in other assets 10,125 15,579
Total cash, cash equivalents and restricted cash 581,273 526,177
Supplemental disclosure of cash flow information:    
Cash paid during the period for income taxes 9,472 20,093
Cash paid during the period for interest 24,047 7,188
Supplemental schedule of non-cash activities:    
Intangible assets and property and equipment included in accounts payable and accrued expenses 6,365 26,466
Lease liabilities arising from obtaining right of use assets 0 5,232
Capitalized stock-based compensation and depreciation as inventory 13,073 14,210
Contingent consideration liabilities derecognized in connection with adoption of ASU 2025-07 $ 0 $ 47,400