v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents (Note 6) $ 3,579 $ 5,294
Short-term investments (Note 6) 2,503 2,406
Accounts receivable, net (Note 2) 555 443
Inventory (Note 7) 1,594 2,248
Other current assets 361 192
Total current assets 8,592 10,583
Property, plant, and equipment, net (Note 8) 5,119 3,965
Operating lease assets, net (Note 9) 571 416
Other non-current assets 582 446
Total assets 14,864 15,410
Current liabilities:    
Accounts payable 595 499
Accrued liabilities (Note 11) 1,438 835
Current portion of deferred revenues, lease liabilities, and other liabilities 1,660 917
Total current liabilities 3,693 2,251
Long-term debt (Note 10) 4,440 4,441
Non-current lease liabilities (Note 9) 551 379
Other non-current liabilities (Note 11) 1,586 1,777
Total liabilities 10,270 8,848
Commitments and contingencies (Note 16)
Stockholders' equity:    
Preferred stock, $0.001 par value; 10 shares authorized and 0 shares issued and outstanding as of December 31, 2024 and 2025 0 0
Common stock, $0.001 par value; 3,508 and 5,258 shares authorized and 1,131 and 1,240 shares issued and outstanding as of December 31, 2024 and 2025, respectively (Note 15) 1 1
Additional paid-in capital 31,508 29,866
Accumulated deficit (26,951) (23,305)
Accumulated other comprehensive (loss) income 8 (4)
Noncontrolling interest 28 4
Total stockholders' equity 4,594 6,562
Total liabilities and stockholders' equity $ 14,864 $ 15,410
Common stock, shares issued (in shares) 1,240 1,131
Common stock, shares outstanding (in shares) 1,240 1,131