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Investments (Tables) | 12 Months Ended
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Jul. 27, 2024
Investments, Debt and Equity Securities [Abstract] |
Summary of Available-for-Sale Investments | The following tables summarize our available-for-sale debt investments (in millions):
July 27, 2024 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized and Credit Losses |  | Fair Value
U.S. government securities | $ | 2,380 |  |  | $ | 1 |  |  | $ | (28) |  |  | $ | 2,353 |
U.S. government agency securities | 223 |  |  | — |  |  | (2) |  |  | 221 |
Non-U.S. government and agency securities | 370 |  |  | 1 |  |  | — |  |  | 371 |
Corporate debt securities | 3,818 |  |  | 5 |  |  | (146) |  |  | 3,677 |
U.S. agency mortgage-backed securities | 1,959 |  |  | — |  |  | (178) |  |  | 1,781 |
Commercial paper | 1,023 |  |  | — |  |  | — |  |  | 1,023 |
Certificates of deposit | 439 |  |  | — |  |  | — |  |  | 439 |
Total | $ | 10,212 |  |  | $ | 7 |  |  | $ | (354) |  |  | $ | 9,865 |
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):
Years Ended | July 27, 2024 |  | July 29, 2023 |  | July 30, 2022
Gross realized gains | $ | 7 |  |  | $ | 4 |  |  | $ | 27 |
Gross realized losses | (74) |  |  | (25) |  |  | (18) |
Total | $ | (67) |  |  | $ | (21) |  |  | $ | 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 July 27, 2024 and July 29, 2023 (in millions):
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
July 27, 2024 | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. government securities | $ | 598 |  |  | $ | (2) |  |  | $ | 1,399 |  |  | $ | (26) |  |  | $ | 1,997 |  |  | $ | (28) |
U.S. government agency securities | 89 |  |  | — |  |  | 109 |  |  | (2) |  |  | 198 |  |  | (2) |
Non-U.S. government and agency securities | 17 |  |  | — |  |  | — |  |  | — |  |  | 17 |  |  | — |
Corporate debt securities | 276 |  |  | (1) |  |  | 2,818 |  |  | (115) |  |  | 3,094 |  |  | (116) |
U.S. agency mortgage-backed securities | 238 |  |  | (1) |  |  | 1,438 |  |  | (177) |  |  | 1,676 |  |  | (178) |
Commercial paper | 10 |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | — |
Total | $ | 1,228 |  |  | $ | (4) |  |  | $ | 5,764 |  |  | $ | (320) |  |  | $ | 6,992 |  |  | $ | (324) |
| 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 Fixed Income Securities | The following table summarizes the maturities of our available-for-sale debt investments as of July 27, 2024 (in millions):
| Amortized Cost |  | Fair Value
Within 1 year | $ | 3,715 |  |  | $ | 3,674 |
After 1 year through 5 years | 4,538 |  |  | 4,410 |
Mortgage-backed securities with no single maturity | 1,959 |  |  | 1,781 |
Total | $ | 10,212 |  |  | $ | 9,865 |

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