STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Activity

The following table summarizes the Company’s stock option and restricted stock unit activity during the year ended December 31, 2021:

	Stock Options						RSUs
				Weighted
				Average				Weighted
	Number of	Weighted		Remaining	Aggregate		Number of	Average
	Shares	Average		Contractual	Intrinsic Value		Shares	Grant Date
	(in millions)	Exercise Price		Life (years)	(in millions)		(in millions)	Fair Value
Outstanding at December 31, 2020	39	$	4.19				12	$	7.24
Granted	29	22.06					26	43.94
Exercised / Vested	(1)	3.29					—	—
Forfeited / Cancelled	(2)	4.73					(1)	27.36
Outstanding at December 31, 2021	65	$	12.06	7.7	$	6,018	37	$	31.24
Vested and expected to vest at December 31, 2021	65	$	12.06	7.7	$	6,018	37	$	31.24
Exercisable at December 31, 2021	22	$	3.95	6.6	$	2,161	—	$	—

The following table summarizes the changes in the Company’s outstanding warrants to purchase common stock:

				Weighted
		Weighted		Average
		Average		Remaining
	Shares	Exercise		Contractual
Common Stock Warrants	(in millions)	Price		Term
Outstanding at December 31, 2020	8	$	6.00	7.6
Granted	—	—
Transferred from preferred stock warrant	4	9.09
Exercised	—	—
Cancelled, forfeited or expired	—	5.66
Outstanding at December 31, 2021	12	$	6.84	7.0
Exercisable at December 31, 2021	12	$	6.84	7.0

The following table summarizes the changes in the Company’s outstanding warrants to purchase preferred stock:

		Weighted
		Average
	Shares	Exercise
Preferred Stock Warrants	(in millions)	Price
Outstanding at December 31, 2020	4	$	9.09
Granted	—	—
Exercised	—	—
Cancelled, forfeited, expired, or converted	(4)	(9.09)
Outstanding at December 31, 2021	—	$	—
Exercisable at December 31, 2021	—	$	—

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table summarizes Company’s stock-based compensation expense for the Stock Plans and ESPP recognized for the year ended December 31, 2021 by line item in the Consolidated Statements of Operations (in millions):

	December 31, 2021
Cost of revenues	$	16
Research and development	277
Selling, general, and administrative	277
Total stock-based compensation expense for the Stock Plans and ESPP	$	570

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The assumptions used in the Monte Carlo simulation are as follows:

	Year Ended December 31, 2021
Volatility	50.0	%
Dividend yield	—	%
Risk-free rate	1.1	%
Maturity (in years)	10.0
Initial stock price	$21.72

The weighted-average assumptions used in the Black-Scholes option pricing model for stock options granted during the years ended December 31, 2019, 2020 and 2021 are as follows:

	Years Ended December 31,
	2019		2020		2021
Volatility	34.5	%	41.3	%	49.5	%
Dividend yield	—	%	—	%	—	%
Risk-free rate	1.8	%	0.3	%	1.1	%
Expected term (in years)	6.9		5.3		5.6