Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Our assets and liabilities that were measured at fair value on a recurring basis were as follows (in millions):

	June 30, 2025								December 31, 2024
	Fair Value		Level I		Level II		Level III		Fair Value		Level I		Level II		Level III
Certificates of deposit and time deposits	$	14,430	$	—	$	14,430	$	—	$	12,767	$	—	$	12,767	$	—
Commercial paper	3,110		—		3,110		—		3,919		—		3,919		—
U.S. government securities	3,608		—		3,608		—		3,620		—		3,620		—
Corporate debt securities	47		—		47		—		118		—		118		—
Money market funds	963		963		—		—		1,753		1,753		—		—
Digital assets (1)	1,235		1,235		—		—		1,076		1,076		—		—
Total	$	23,393	$	2,198	$	21,195	$	—	$	23,253	$	2,829	$	20,424	$	—

(1)As of June 30, 2025 and December 31, 2024, the majority of our digital assets were comprised of 11,509 units of Bitcoin held, at a cost of $386 million.

Schedule of Cash, Cash Equivalents and Investments Classified by Security Type

Our cash, cash equivalents and investments classified by security type as of June 30, 2025 and December 31, 2024 consisted of the following (in millions):

	June 30, 2025
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Short-Term Investments
Cash	$	14,624	$	—	$	—	$	14,624	$	14,624	$	—
Certificates of deposit and time deposits	14,430		—		—		14,430		—		14,430
Commercial paper	3,107		3		—		3,110		—		3,110
U.S. government securities	3,609		1		(2)		3,608		—		3,608
Corporate debt securities	47		—		—		47		—		47
Money market funds	963		—		—		963		963		—
Total cash, cash equivalents and short-term investments	$	36,780	$	4	$	(2)	$	36,782	$	15,587	$	21,195

	December 31, 2024
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Short-Term Investments
Cash	$	14,386	$	—	$	—	$	14,386	$	14,386	$	—
Certificates of deposit and time deposits	12,767		—		—		12,767		—		12,767
Commercial paper	3,908		11		—		3,919		—		3,919
U.S. government securities	3,618		3		(1)		3,620		—		3,620
Corporate debt securities	117		1		—		118		—		118
Money market funds	1,753		—		—		1,753		1,753		—
Total cash, cash equivalents and short-term investments	$	36,549	$	15	$	(1)	$	36,563	$	16,139	$	20,424