Fair Value Measurements (Tables)

6 Months Ended

Jul. 31, 2025

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

The following tables present information about our financial instruments that are measured at fair value on a recurring basis and indicate the level within the fair value hierarchy of the key valuation inputs utilized to determine such fair value:


	As of July 31, 2025
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	693,125	$	693,125	$	—	$	—
Treasury bills	59,220		—		59,220		—


Cash equivalents	752,345		693,125		59,220		—
U.S. government agency securities	4,789,387		—		4,789,387		—
Agency bonds	991,578		—		991,578		—
Corporate and other debt securities	730,731		—		730,731		—
Treasury bills	65,414		—		65,414		—
Commercial paper	2,963		—		2,963		—
Marketable securities	6,580,073		—		6,580,073		—



Publicly held equity securities included in strategic investments	82,755		82,755		—		—
Privately held debt securities included in strategic investments	3,946		—		—		3,946
Total financial assets	$	7,419,119	$	775,880	$	6,639,293	$	3,946


	As of January 31, 2025
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	825,044	$	825,044	$	—	$	—
Treasury bills	17,965		—		17,965		—
Agency bonds	23,992		—		23,992		—

Cash equivalents	867,001		825,044		41,957		—
U.S. government agency securities	4,415,930		—		4,415,930		—
Agency bonds	1,174,484		—		1,174,484		—
Corporate and other debt securities	720,795		—		720,795		—
Treasury bills	110,279		—		110,279		—
Commercial paper	20,841		—		20,841		—
Marketable securities	6,442,329		—		6,442,329		—



Publicly held equity securities included in strategic investments	35,280		35,280		—		—
Privately held debt securities included in strategic investments	4,450		—		—		4,450
Total financial assets	$	7,349,060	$	860,324	$	6,484,286	$	4,450