v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (733,113) $ (87,406)
Adjustments to reconcile to net cash used for operating activities    
Depreciation and amortization 18,460 14,851
Noncash lease expense 230 1,395
Sales under sales-type lease 0 (16,526)
Stock compensation expense 447,454 0
Loss on change in fair value of warrant liabilities 111,815 7,800
(Gain)/Loss on disposal and write down of assets (10) 901
Interest expense 4 4
Foreign exchange (gain)/loss—net 62 (15)
Access to quantum computing hardware 4,648 2,991
Changes in operating assets and liabilities    
Accounts receivable 1,690 1,843
Due from related parties 38 229
Other current assets (11,082) 565
Net investment in leases 2,886 2,886
Prepayment to related parties, non-current (14,136) 0
Other assets—net 472 1,516
Accounts payable 15,463 4,387
Due to related parties (710) (534)
Accrued liabilities 26,943 (746)
Other liabilities (199) 79
Net cash used for operating activities (129,085) (65,780)
Cash flows from investing activities:    
Capital expenditures (39,177) (37,721)
Net cash used for investing activities (39,177) (37,721)
Cash flows from financing activities:    
Proceeds from issuance of common stock 1,628,774 0
Common stock issuance costs (23,534) 0
Withholding taxes paid on stock compensation (91,984) 0
Net cash provided by financing activities 1,513,256 0
Effect of exchange rate changes on cash and cash equivalents (950) 23
Net increase (decrease) in cash and cash equivalents 1,344,044 (103,478)
Cash and cash equivalents at beginning of period 762,642 172,343
Cash and cash equivalents at end of period 2,106,686 68,865
Non-cash investing and financing activities:    
Unpaid purchases of property and equipment 9,227 8,348
Unpaid withholding taxes on stock compensation 38,692 0
Unpaid issuance costs 5,672 0
Value of shares issued via cashless warrant exercise $ 150,215 $ 0