Investments and Fair Value Measurements (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of Available-for-Sale Marketable Securities Held |
Available-for-sale marketable securities held as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gross Unrealized | | | | Classification on Balance Sheet | | Amortized Cost | | Gains | | Losses | | Aggregate
Fair Value | | Short-Term
Marketable
Securities | | Long-Term
Marketable
Securities | | As of June 30, 2026 | | | | | | | | | | | | Time deposits | $ | 37,577 | | | $ | — | | | $ | — | | | $ | 37,577 | | | $ | 37,577 | | | $ | — | | | Commercial paper | 997,441 | | | — | | | (1,779) | | | 995,662 | | | 971,744 | | | 23,918 | | | Corporate bonds | 1,677,190 | | | 275 | | | (5,374) | | | 1,672,091 | | | 858,452 | | | 813,639 | | | U.S. government agency obligations | 394,641 | | | — | | | (567) | | | 394,074 | | | — | | | 394,074 | | | $ | 3,106,849 | | | $ | 275 | | | $ | (7,720) | | | $ | 3,099,404 | | | $ | 1,867,773 | | | $ | 1,231,631 | | | | | | | | | | | | | | | As of December 31, 2025 | | | | | | | | | | | | | Time deposits | $ | 31,035 | | | $ | — | | | $ | — | | | $ | 31,035 | | | $ | 31,035 | | | $ | — | | | | | | | | | | | | | | | Corporate bonds | 920,142 | | | 3,921 | | | (127) | | | 923,936 | | | 217,139 | | | 706,797 | | | | | | | | | | | | | | | $ | 951,177 | | | $ | 3,921 | | | $ | (127) | | | $ | 954,971 | | | $ | 248,174 | | | $ | 706,797 | |
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| Schedule of Contractual Maturities of Available-for-Sale Marketable Securities Held |
Contractual maturities of the Company’s available-for-sale marketable securities held as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
| | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Due in 1 year or less | $ | 1,867,773 | | | $ | 248,174 | | | Due after 1 year through 5 years | 1,231,631 | | | 706,797 | | | $ | 3,099,404 | | | $ | 954,971 | |
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| Schedule of Fair Value Measurements Within Fair Value Hierarchy |
The fair value measurements within the fair value hierarchy of the Company’s financial assets as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | Total Fair Value | | Fair Value Measurements at
Reporting Date Using | | | Level 1 | | Level 2 | | | | As of June 30, 2026 | | | | | | | | | Cash Equivalents and Marketable Securities: | | | | | | | | | Money market funds | $ | 1,016,873 | | | $ | 1,016,873 | | | $ | — | | | | | Time deposits | 127,152 | | | — | | | 127,152 | | | | | Commercial paper | 995,662 | | | — | | | 995,662 | | | | | Corporate bonds | 1,672,091 | | | — | | | 1,672,091 | | | | | U.S. government agency obligations | 394,074 | | | — | | | 394,074 | | | | | Mutual funds | 32,078 | | | 32,078 | | | — | | | | | $ | 4,237,930 | | | $ | 1,048,951 | | | $ | 3,188,979 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | | | | Cash Equivalents and Marketable Securities: | | | | | | | | | Money market funds | $ | 409,326 | | | $ | 409,326 | | | $ | — | | | | | Time deposits | 103,038 | | | — | | | 103,038 | | | | | Commercial paper | 34,962 | | | — | | | 34,962 | | | | | Corporate bonds | 923,936 | | | — | | | 923,936 | | | | | | | | | | | | | Mutual funds | 28,981 | | | 28,981 | | | — | | | | | $ | 1,500,243 | | | $ | 438,307 | | | $ | 1,061,936 | | | |
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