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Investments (Tables)
 6 Months Ended
Jan. 24, 2026
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 24, 2026Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized and Credit Losses		Fair
Value
U.S. government securities$1,756 $4 $(4)$1,756 
U.S. government agency securities 49 — — 49 
Non-U.S. government and agency securities442 1 — 443 
Corporate debt securities3,106 10 (37)3,079 
Mortgage- and asset-backed securities247 — (11)236 
Commercial paper1,337 — — 1,337 
Certificates of deposit1,060 — — 1,060 
Total$7,997 $15 $(52)$7,960 
July 26, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized and Credit Losses		Fair
Value
U.S. government securities$1,971 $2 $(12)$1,961 
U.S. government agency securities 67 — — 67 
Non-U.S. government and agency securities458 — — 458 
Corporate debt securities3,138 13 (61)3,090 
Mortgage- and asset-backed securities320 — (34)286 
Commercial paper950 — — 950 
Certificates of deposit569 — — 569 
Total$7,473 $15 $(107)$7,381 
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 EndedSix Months Ended
January 24, 2026January 25, 2025January 24, 2026January 25, 2025
Gross realized gains$1 $— $11 $8 
Gross realized losses(5)(20)(19)(53)
Total$(4)$(20)$(8)$(45)
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 24, 2026 and July 26, 2025 (in millions):
 UNREALIZED LOSSES
LESS THAN 12 MONTHS		UNREALIZED LOSSES
12 MONTHS OR GREATER		TOTAL
January 24, 2026Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross 
Unrealized 
Losses
U.S. government securities$710 $(2)$244 $(2)$954 $(4)
Non-U.S. government and agency securities116 — — — 116 — 
Corporate debt securities422 (1)1,409 (10)1,831 (11)
Mortgage- and asset-backed securities33 — 105 (11)138 (11)
Total$1,281 $(3)$1,758 $(23)$3,039 $(26)
 UNREALIZED LOSSES
LESS THAN 12 MONTHS		UNREALIZED LOSSES
12 MONTHS OR GREATER		TOTAL
July 26, 2025Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross 
Unrealized 
Losses
U.S. government securities$1,076 $(6)$302 $(6)$1,378 $(12)
U.S. government agency securities8 — 21 — 29 — 
Non-U.S. government and agency securities292 — — — 292 — 
Corporate debt securities106 — 1,800 (35)1,906 (35)
Mortgage- and asset-backed securities5 — 279 (34)284 (34)
Commercial paper30 — — — 30 — 
Total$1,517 $(6)$2,402 $(75)$3,919 $(81)
Maturities of Available-for-Sale Debt Investments
The following table summarizes the maturities of our available-for-sale debt investments as of January 24, 2026 (in millions): 
Amortized CostFair Value
Within 1 year$4,696 $4,660 
After 1 year through 5 years2,982 2,992 
After 5 years through 10 years72 72 
Mortgage- and asset-backed securities with no single maturity247 236 
Total$7,997 $7,960 
Equity Securities without Readily Determinable Fair Value We have recorded cumulative adjustments to the carrying value of our investments in privately held companies measured using the measurement alternative as follows (in millions):
January 24, 2026July 26, 2025
Cumulative upward adjustments$278 $195 
Cumulative downward adjustments, including impairments(601)(597)
Net adjustments$(323)$(402)