v3.25.1
Non-marketable Equity Securities
3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Non-marketable Equity Securities Non-marketable Equity Securities
Our non-marketable equity securities are investments in privately-held companies without readily determinable fair values. The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions):

March 31, 2025December 31, 2024
Non-marketable equity securities under measurement alternative:
Initial cost$6,443 $6,342 
Cumulative upward adjustments300 300 
Cumulative impairment/downward adjustments(624)(624)
Carrying value6,119 6,018 
Non-marketable equity securities under equity method49 52 
Total non-marketable equity securities$6,168 $6,070