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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,606,865 $ 1,369,947
Short-term investments (including $15,000 and nil associated with a related party as of December 31, 2024 and 2023, respectively) 2,424,103 2,489,798
Accounts receivable, net (including $57,909 and $35,526 from a related party as of December 31, 2024 and 2023, respectively) 112,025 51,822
Inventory 407,774 696,236
Prepaid expenses 52,951 69,682
Other current assets (including $34,503 and nil associated with a related party as of December 31, 2024 and 2023, respectively) 270,218 79,670
Total current assets 4,873,936 4,757,155
Property, plant and equipment, net 3,262,612 2,810,867
Right-of-use assets 211,886 221,508
Long-term investments (including $20,000 and nil associated with a related party as of December 31, 2024 and 2023, respectively) 1,012,223 461,029
Other noncurrent assets 249,443 180,626
Investments in equity securities of a related party 37,831 81,533
TOTAL ASSETS 9,647,931 8,512,718
Current liabilities:    
Accounts payable 133,832 108,724
Finance lease liabilities, current portion 6,788 8,202
Other current liabilities (including $126,417 and $92,258 associated with related parties as of December 31, 2024 and 2023, respectively) 1,024,671 891,484
Total current liabilities 1,165,291 1,008,410
Finance lease liabilities, net of current portion 76,096 77,653
Common stock warrant liability 19,514 53,664
Long-term debt 2,002,151 1,996,960
Other long-term liabilities (including $121,136 and $178,311 associated with related parties as of December 31, 2024 and 2023, respectively) 572,800 524,339
Derivative liabilities associated with redeemable convertible preferred stock (related party) 639,425 0
Total liabilities 4,475,277 3,661,026
Commitments and contingencies (Note 12)
REDEEMABLE CONVERTIBLE PREFERRED STOCK    
Redeemable convertible preferred stock, (related party) 1,299,842 0
STOCKHOLDERS’ EQUITY    
Common stock, par value $0.0001; 15,000,000,000 shares authorized as of December 31, 2024 and 2023; 3,032,219,724 and 2,300,111,489 shares issued and 3,031,361,899 and 2,299,253,664 shares outstanding as of December 31, 2024 and 2023, respectively 303 230
Additional paid-in capital 16,808,018 15,066,080
Treasury stock, at cost, 857,825 shares at December 31, 2024 and 2023 (20,716) (20,716)
Accumulated other comprehensive income (loss) (2,099) 4,850
Accumulated deficit (12,912,694) (10,198,752)
Total stockholders’ equity 3,872,812 4,851,692
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY 9,647,931 8,512,718
Series A Redeemable Convertible Preferred Stock    
REDEEMABLE CONVERTIBLE PREFERRED STOCK    
Redeemable convertible preferred stock, (related party) 730,025 0
Series B Redeemable Convertible Preferred Stock    
REDEEMABLE CONVERTIBLE PREFERRED STOCK    
Redeemable convertible preferred stock, (related party) $ 569,817 $ 0