STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022:

	Stock Options						RSUs
	Number of Shares  (in millions)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life  (in years)	Aggregate Intrinsic Value (in millions)		Number of Shares  (in millions)	Weighted-Average Grant-Date Fair Value
Outstanding at December 31, 2021	65	$	12.06				37	$	31.24
Granted	1	37.47					25	35.87
Exercised / Vested	(4)	4.67					(19)	36.25
Forfeited / Cancelled	(1)	7.21					(6)	41.50
Outstanding at December 31, 2022	61	$	12.98	6.8	$	456	37	$	38.72
Vested and expected to vest at December 31, 2022	61	$	12.98	6.8	$	456	37	$	38.72
Exercisable at December 31, 2022	28	$	5.02	5.8	$	386	—	$	—

Share-based Payment Arrangement, Expensed and Capitalized, Amount

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

	Years Ended December 31,
	2021		2022
Cost of revenues	$	16	$	60
Research and development	277		437
Selling, general, and administrative	277		490
Total stock-based compensation expense	$	570	$	987

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

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

	Years Ended December 31,
	2020		2021		2022
Volatility	41.3	%	49.5	%	55.5	%
Dividend yield	—	%	—	%	—	%
Risk-free rate	0.3	%	1.1	%	2.9	%
Expected term (in years)	5.3		5.6		6.8