| Schedule of Marketable Securities |
As of January 31, 2025 and 2024, our marketable securities consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | As of January 31, 2025 | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Estimated
Fair
Value | | | | | | | | | | (in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial paper | $ | 20,841 | | | $ | — | | | $ | — | | | $ | 20,841 | | | Agency bonds | 1,173,518 | | | 1,609 | | | (643) | | | 1,174,484 | | | Corporate and other debt securities | 719,145 | | | 2,069 | | | (419) | | | 720,795 | | | U.S. government agency securities | 4,412,730 | | | 8,449 | | | (5,249) | | | 4,415,930 | | | Treasury bills | 110,237 | | | 43 | | | (1) | | | 110,279 | | | Marketable securities | $ | 6,436,471 | | | $ | 12,170 | | | $ | (6,312) | | | $ | 6,442,329 | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of January 31, 2024 | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Estimated
Fair
Value | | | | | | | | | | (in thousands) | | | | | | | | | | | | | | | | | | Commercial paper | $ | 41,564 | | | $ | — | | | $ | — | | | $ | 41,564 | | | Agency bonds | 1,667,601 | | | 2,426 | | | (3,344) | | | 1,666,683 | | | Corporate and other debt securities | 663,122 | | | 1,161 | | | (1,124) | | | 663,159 | | | U.S. government agency securities | 3,003,224 | | | 7,859 | | | (6,241) | | | 3,004,842 | | | Treasury bills | 27,992 | | | — | | | (7) | | | 27,985 | | | Marketable securities | $ | 5,403,503 | | | $ | 11,446 | | | $ | (10,716) | | | $ | 5,404,233 | |
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| Schedule of Contractual Maturities of Marketable Securities |
The following table presents the contractual maturities of our marketable securities as of January 31, 2025 and 2024: | | | | | | | | | | | | | As of January 31, | | 2025 | | 2024 | | | | | | (in thousands) | | Less than one year | $ | 3,534,014 | | | $ | 2,883,598 | | | Due in one to five years | 2,908,315 | | | 2,520,635 | | | Total | $ | 6,442,329 | | | $ | 5,404,233 | |
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| Schedule of Strategic Investments |
Strategic investments by form and measurement category as of January 31, 2025 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Measurement Category | | Fair Value | | Measurement Alternative | | Equity Method | | Total | | | | | | | | | | (in thousands) | | Equity securities | $ | 35,280 | | | $ | 452,160 | | | $ | 99,591 | | | $ | 587,031 | | | Debt securities | 4,450 | | | — | | | — | | | 4,450 | | | Strategic investments | $ | 39,730 | | | $ | 452,160 | | | $ | 99,591 | | | $ | 591,481 | |
Strategic investments by form and measurement category as of January 31, 2024 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Measurement Category | | Fair Value | | Measurement Alternative | | Equity Method | | Total | | | | | | | | | | (in thousands) | | Equity securities | $ | 23,160 | | | $ | 285,509 | | | $ | 96,725 | | | $ | 405,394 | | | Debt securities | 3,828 | | | — | | | — | | | 3,828 | | | Strategic investments | $ | 26,988 | | | $ | 285,509 | | | $ | 96,725 | | | $ | 409,222 | |
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