Fair Value Disclosure (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value

The Company’s financial assets measured at fair value on a recurring basis are as follows (in thousands):

	As of June 30, 2023						As of December 31, 2022
	Fair Value		Level 1		Level 3		Fair Value		Level 1		Level 3
Assets:
Cash and cash equivalents:
Cash	$	627,274	$	627,274	$	—	$	1,353,547	$	1,353,547	$	—
Money market funds	1,127,987		1,127,987		—		608,409		608,409		—
Restricted cash, current	40,713		40,713		—		—		—		—
Other non-current assets:
Strategic Investment	52,558		—		52,558		39,468		—		39,468
Total assets measured and recorded at fair value	$	1,848,532	$	1,795,974	$	52,558	$	2,001,424	$	1,961,956	$	39,468

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table reflects the changes in the fair value of the Company’s Level 3 financial assets (in thousands):

	Three Months Ended		Six Months Ended
	June 30, 2023		June 30, 2023
Beginning balance	$	47,678	$	39,468
Purchase of Strategic Investment	5,000		10,000
Change in estimated fair value of the Strategic Investment	(120)		3,090
Ending balance	$	52,558	$	52,558