Fair Value (Tables)

6 Months Ended

Jan. 24, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis were as follows (in millions):

	JANUARY 24, 2026						JULY 26, 2025
	FAIR VALUE MEASUREMENTS						FAIR VALUE MEASUREMENTS
	Level 1		Level 2		Total Balance		Level 1		Level 2		Total Balance
Assets:
Cash equivalents:
Money market funds	$	5,348	$	—	$	5,348	$	5,885	$	—	$	5,885
Commercial paper	—		134		134		—		336		336
Corporate debt securities	—		—		—		—		1		1
Available-for-sale debt investments:
U.S. government securities	—		1,756		1,756		—		1,961		1,961
U.S. government agency securities	—		49		49		—		67		67
Non-U.S. government and agency securities	—		443		443		—		458		458
Corporate debt securities	—		3,079		3,079		—		3,090		3,090
Mortgage- and asset-backed securities	—		236		236		—		286		286
Commercial paper	—		1,337		1,337		—		950		950
Certificates of deposit	—		1,060		1,060		—		569		569
Equity investments:
Marketable equity securities	359		—		359		383		—		383
Other current assets:
Money market funds	—		—		—		563		—		563
Derivative assets	—		90		90		—		32		32
Total	$	5,707	$	8,184	$	13,891	$	6,831	$	7,750	$	14,581
Liabilities:
Derivative liabilities	$	—	$	83	$	83	$	—	$	31	$	31
Total	$	—	$	83	$	83	$	—	$	31	$	31