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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,479,470 $ 1,710,227
Accounts receivable [1] 3,609 5,747
Prepaid expenses and other current assets [1] 20,545 23,494
Total current assets 1,503,624 1,739,468
Property and equipment, net 402,753 348,540
Operating lease right-of-use assets 20,675 16,417
Other assets 6,400 1,840
Total assets 1,933,452 2,106,265
Current liabilities:    
Accounts payable 22,808 24,503
Accrued expenses 43,606 35,109
Payroll liabilities 16,344 3,334
Deferred revenue [2] 7,015 3,704
Operating lease liabilities 1,859 1,551
Notes payable 8,547 5,711
Other current liabilities 3,728 2,483
Total current liabilities 103,907 76,395
Deferred revenue, non-current [2] 14,879 12,550
Operating lease liabilities, non-current 20,885 16,838
Notes payable, non-current [3] 175,405 179,799
Other liabilities 3,199 2,847
Total liabilities 318,275 288,429
Commitments and contingencies (see Note 7)
Stockholders’ equity:    
Preferred stock, $0.0001 par value Authorized - 50,000,000 shares Issued and outstanding - 0 shares in 2025 and 2024 0 0
Additional paid-in capital 3,799,864 3,731,273
Accumulated deficit (2,184,512) (1,913,450)
Accumulated other comprehensive loss (199) (10)
Total stockholders’ equity 1,615,177 1,817,836
Total liabilities and stockholders’ equity 1,933,452 2,106,265
Class A Common Stock    
Stockholders’ equity:    
Common stock 23 22
Class B Common Stock    
Stockholders’ equity:    
Common stock $ 1 $ 1
[1] Includes related party amounts of $1,336 and $2,202 (accounts receivable) and $0 and $2,802 (prepaid expenses and other current assets) as of June 30, 2026, and December 31, 2025, respectively (see Note 12).
[2] Includes related party amounts of $2,097 and $1,011 (deferred revenue) and $10,564 and $8,290 (deferred revenue, non-current) as of June 30, 2026, and December 31, 2025, respectively (see Note 12).
[3] Includes related party amounts of $32,879 and $32,626 as of June 30, 2026 and December 31, 2025, respectively (see Note 12).