NET LOSS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders are calculated as follows (in thousands, except share and per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Net loss	$	(539,432)	$	(643,390)	$	(905,603)	$	(1,324,249)
Accretion of redeemable convertible preferred stock (related party)	(199,823)		(146,861)		(564,748)		(150,762)
Net loss attributable to common stockholders, basic	(739,255)		(790,251)		(1,470,351)		(1,475,011)
Interest expense on 2026 Notes	309		—		4,283		—
Gain on extinguishment of debt	(116,360)		—		(116,360)		—
Net loss attributable to common stockholders, diluted	$	(855,306)	$	(790,251)	$	(1,582,428)	$	(1,475,011)
Weighted-average shares outstanding, basic	3,056,404,834		2,310,360,525		3,046,411,837		2,306,209,050
Dilutive effect of 2026 Notes, using if-converted method	1,477,890		—		10,296,242		—
Weighted-average shares outstanding, diluted	3,057,882,724		2,310,360,525		3,056,708,079		2,306,209,050
Net loss per share:
Basic	$	(0.24)	$	(0.34)	$	(0.48)	$	(0.64)
Diluted	$	(0.28)	$	(0.34)	$	(0.52)	$	(0.64)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect:

	June 30,
Excluded Securities	2025	2024
Private Placement Warrants to purchase common stock	44,350,000	44,350,000
Options outstanding to purchase common stock	22,073,185	30,287,248
RSUs outstanding	86,406,510	116,586,371
Employee stock purchase plan	22,966,125	19,681,061
If-converted common shares from 2026 Notes	17,525,210	36,737,785
If-converted common shares from 2030 Notes	366,666,630	—
If-converted common shares from Series A redeemable convertible preferred stock	311,108,563	284,615,599
If-converted common shares from Series B redeemable convertible preferred stock	185,162,444	—
Total	1,056,258,667	532,258,064