Investments (Tables)

12 Months Ended

Jan. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

As of January 31, 2026 and 2025, our marketable securities consisted of the following: 

	As of January 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in thousands)
Agency bonds	$	1,095,004	$	1,032	$	(565)	$	1,095,471
U.S. government agency securities	5,373,782		11,094		(989)		5,383,887
Treasury bills	64,671		5		(3)		64,673
Marketable securities	$	6,533,457	$	12,131	$	(1,557)	$	6,544,031

	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

Schedule of Contractual Maturities of Marketable Securities

The following table presents the contractual maturities of our marketable securities as of January 31, 2026 and 2025:

	As of January 31,
	2026		2025
	(in thousands)
Less than one year	$	3,168,258	$	3,534,014
Due in one to three years	3,375,773		2,908,315
Total	$	6,544,031	$	6,442,329

Schedule of Strategic Investments

Strategic investments by type and measurement category as of January 31, 2026 were as follows:

	Measurement Category
	Fair Value		Measurement Alternative		Equity Method		Total
	(in thousands)
Equity securities	$	—	$	1,448,531	$	126,112	$	1,574,643
Debt securities	3,968		—		—		3,968
Strategic investments	$	3,968	$	1,448,531	$	126,112	$	1,578,611

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