v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured on Recurring Basis
The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and indicates the level of the fair value hierarchy used to determine such fair values (in millions):

June 30, 2026
Level 1Level 2Level 3Total
Assets:
Money market funds$636 $— $— $636 
Commercial paper— 58 — 58 
Certificates of deposit— 35 — 35 
Corporate bonds— 291 — 291 
Treasury bonds— 188 — 188 
Asset-backed securities— 126 — 126 
$636 $698 $— $1,334 
Liabilities:
Warrants to purchase common stock$— $— $12 $12 
$— $— $12 $12 

December 31, 2025
Level 1Level 2Level 3Total
Assets:
Money market funds$951 $— $— $951 
Commercial paper— 96 — 96 
Certificates of deposit— 23 — 23 
Corporate bonds— 261 — 261 
U.S. government agency securities— 7 — 7 
Treasury bonds— 134 — 134 
Asset-backed securities— 142 — 142 
$951 $663 $— $1,614 
Liabilities:
Warrants to purchase common stock$— $— $19 $19 
$— $— $19 $19 
Schedule of Marketable Securities
The fair values of the marketable securities by contractual maturities at June 30, 2026 were as follows (in millions):

  June 30, 2026
Due within 1 year$402 
Due after 1 year through 5 years294 
Due after 5 years and thereafter2 
Total marketable securities$698