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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Unit and Stock Option Activity
The following table summarizes the Company’s restricted stock unit and stock option activity during the year ended December 31, 2024:

RSUsStock Options
Number of Shares
 (in millions)
Weighted-Average Grant-Date Fair ValueNumber of Shares
 (in millions)
Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Life
 (in years)
Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 202356 $22.36 62 $13.49 
Granted78 10.50 11.13 
Vested / Exercised(59)16.12 (3)3.87 
Forfeited / Cancelled(14)18.90 (1)25.26 
Outstanding at December 31, 202461 $14.10 60 $13.60 5.2$249 
Vested and expected to vest at December 31, 202461 $14.10 60 $13.60 5.2$249 
Exercisable at December 31, 2024— $— 32 $7.14 4.1$243 
Schedule of Stock-Based Compensation Expense for Stock Plans and 2021 Employee Stock Purchase Plan
The following table summarizes the Company’s stock-based compensation expense for the Stock Plans and 2021 Employee Stock Purchase Plan (“ESPP”) by line item in the Consolidated Statements of Operations (in millions):

Years Ended December 31,
202220232024
Cost of revenues$60 $85 $62 
Research and development437 408 360 
Selling, general, and administrative490 328 270 
Total stock-based compensation expense$987 $821 $692 
Schedule of Weighted-Average Assumptions Used in Black-Scholes Option Pricing Model for Stock Options Granted
The weighted-average assumptions used in the Black-Scholes option pricing model for stock options granted were as follows:

Years Ended December 31,
202220232024
Volatility55.5 %61.4 %62.5 %
Dividend yield— %— %— %
Risk-free rate2.9 %4.0 %4.2 %
Expected term (in years)6.86.36.3