Investments (Tables)

6 Months Ended

Jan. 27, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Debt Investments

The following tables summarize our available-for-sale debt investments (in millions):

January 27, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized and Credit Losses		Fair Value
U.S. government securities	$	2,428	$	3	$	(34)	$	2,397
U.S. government agency securities	354		—		(2)		352
Non-U.S. government and agency securities	364		—		—		364
Corporate debt securities	5,343		7		(210)		5,140
U.S. agency mortgage-backed securities	2,127		1		(197)		1,931
Commercial paper	828		—		—		828
Certificates of deposit	518		—		—		518
Total	$	11,962	$	11	$	(443)	$	11,530

July 29, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized and Credit Losses		Fair Value
U.S. government securities	$	3,587	$	1	$	(62)	$	3,526
U.S. government agency securities	428		—		(5)		423
Non-U.S. government and agency securities	364		—		(1)		363
Corporate debt securities	7,238		3		(327)		6,914
U.S. agency mortgage-backed securities	2,421		14		(230)		2,205
Commercial paper	1,484		—		—		1,484
Certificates of deposit	677		—		—		677
Total	$	16,199	$	18	$	(625)	$	15,592

Gross Realized Gains and Gross Realized Losses Related to Available-for-Sale Investment

The following table presents the gross realized gains and gross realized losses related to available-for-sale debt investments (in millions):

	Three Months Ended				Six Months Ended
	January 27, 2024		January 28, 2023		January 27, 2024		January 28, 2023
Gross realized gains	$	5	$	3	$	5	$	3
Gross realized losses	(28)		(6)		(48)		(12)
Total	$	(23)	$	(3)	$	(43)	$	(9)

Available-for-Sale Investments with Gross Unrealized Losses

The following tables present the breakdown of the available-for-sale debt investments with gross unrealized losses and the duration that those losses had been unrealized at January 27, 2024 and July 29, 2023 (in millions):

	UNREALIZED LOSSES LESS THAN 12 MONTHS				UNREALIZED LOSSES 12 MONTHS OR GREATER				TOTAL
January 27, 2024	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross  Unrealized  Losses
U.S. government securities	$	1,145	$	(9)	$	550	$	(25)	$	1,695	$	(34)
U.S. government agency securities	224		—		39		(2)		263		(2)
Non-U.S. government and agency securities	200		—		—		—		200		—
Corporate debt securities	557		(2)		3,527		(178)		4,084		(180)
U.S. agency mortgage-backed securities	415		(6)		1,320		(191)		1,735		(197)
Commercial paper	10		—		—		—		10		—
Total	$	2,551	$	(17)	$	5,436	$	(396)	$	7,987	$	(413)

	UNREALIZED LOSSES LESS THAN 12 MONTHS				UNREALIZED LOSSES 12 MONTHS OR GREATER				TOTAL
July 29, 2023	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross  Unrealized  Losses
U.S. government securities	$	2,394	$	(26)	$	931	$	(36)	$	3,325	$	(62)
U.S. government agency securities	343		(2)		72		(3)		415		(5)
Non-U.S. government and agency securities	363		(1)		—		—		363		(1)
Corporate debt securities	1,736		(22)		4,315		(275)		6,051		(297)
U.S. agency mortgage-backed securities	658		(13)		1,438		(217)		2,096		(230)
Commercial paper	97		—		—		—		97		—
Certificates of deposit	2		—		—		—		2		—
Total	$	5,593	$	(64)	$	6,756	$	(531)	$	12,349	$	(595)

Maturities of Available-for-Sale Debt Investments

The following table summarizes the maturities of our available-for-sale debt investments as of January 27, 2024 (in millions): 

	Amortized Cost		Fair Value
Within 1 year	$	3,686	$	3,642
After 1 year through 5 years	6,149		5,957
Mortgage-backed securities with no single maturity	2,127		1,931
Total	$	11,962	$	11,530