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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
The Company evaluated material subsequent events from the Consolidated Balance Sheet date of December 31, 2024, through March 19, 2025 the date the condensed consolidated financial statements were issued. There were no material subsequent events as of March 19, 2025, except as discussed below.
On January 20, 2025, the Company announced another cost-reduction plan aimed at streamlining operations and enhancing its focus on artificial intelligence data centers, EV, and mobile applications—accelerating its path to profitability. The plan includes an approximate 19% reduction in workforce, with most associated costs related to severance and stock-based compensation. The majority of these costs are anticipated to be incurred in the first quarter of 2025 and is not expected to be material. The majority of these costs are anticipated to be incurred in the first quarter of 2025.