v3.26.1
Investments (Tables)
 6 Months Ended
Jul. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Marketable Securities
As of July 31, 2026, marketable securities consisted of the following (in millions):
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair Value
Corporate notes and obligations$1,570 $1 $(7)$1,564 
U.S. treasury securities743 0 (3)740 
Mortgage-backed obligations36 0 (1)35 
Asset-backed securities563 0 (1)562 
Municipal securities18 0 0 18 
Commercial paper104 0 0 104 
Other70 0 0 70 
Total marketable securities$3,104 $1 $(12)$3,093 
As of January 31, 2026, marketable securities consisted of the following (in millions):
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair Value
Corporate notes and obligations$1,343 $10 $0 $1,353 
U.S. treasury securities168 2 0 170 
Mortgage-backed obligations32 0 (1)31 
Asset-backed securities618 4 0 622 
Municipal securities17 0 0 17 
Commercial paper30 0 0 30 
Other15 0 0 15 
Total marketable securities$2,223 $16 $(1)$2,238 
Schedule of Short-Term and Long-Term Marketable Securities
The contractual maturities of the investments classified as marketable securities were as follows (in millions):
As of
July 31, 2026January 31, 2026
Due within 1 year$1,202 $460 
Due in 1 year through 5 years1,890 1,777 
Due in 5 years through 10 years1 1 
$3,093 $2,238 
Schedules of Strategic Investments
Strategic investments by form and measurement category as of July 31, 2026 were as follows (in millions):
Measurement Category
Fair ValueMeasurement AlternativeOtherTotal
Equity securities$0 $11,169 $123 $11,292 
Other investments 0 0 32 32 
Balance as of July 31, 2026
$0 $11,169 $155 $11,324 
Strategic investments by form and measurement category as of January 31, 2026 were as follows (in millions):
Measurement Category
Fair ValueMeasurement AlternativeOtherTotal
Equity securities$5 $7,415 $127 $7,547 
Other investments0 0 44 44 
Balance as of January 31, 2026
$5 $7,415 $171 $7,591 
The components of gains (losses) on strategic investments, net were as follows (in millions):
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Unrealized gains (losses) recognized on publicly traded equity securities, net$0 $13 $(1)$(3)
Unrealized gains recognized on privately held equity securities, net2,894 53 3,222 60 
Impairments on privately held equity securities and other investments(285)(86)(404)(133)
Unrealized gains (losses), net2,609 (20)2,817 (76)
Realized gains on sales of securities, net4 26 354 19 
Gains (losses) on strategic investments, net $2,613 $6 $3,171 $(57)