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Investments (Tables) | 3 Months Ended
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Oct. 26, 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):
October 26, 2024 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized and Credit Losses |  | Fair Value
U.S. government securities | $ | 2,390 |  |  | $ | 2 |  |  | $ | (24) |  |  | $ | 2,368 |
U.S. government agency securities | 154 |  |  | — |  |  | (1) |  |  | 153 |
Non-U.S. government and agency securities | 388 |  |  | 1 |  |  | — |  |  | 389 |
Corporate debt securities | 3,610 |  |  | 9 |  |  | (107) |  |  | 3,512 |
U.S. agency mortgage-backed securities | 1,038 |  |  | — |  |  | (133) |  |  | 905 |
Commercial paper | 1,193 |  |  | — |  |  | — |  |  | 1,193 |
Certificates of deposit | 674 |  |  | — |  |  | — |  |  | 674 |
Total | $ | 9,447 |  |  | $ | 12 |  |  | $ | (265) |  |  | $ | 9,194 |
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 |
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
| October 26, 2024 |  | October 28, 2023
Gross realized gains | $ | 8 |  |  | $ | — |
Gross realized losses | (33) |  |  | (20) |
Total | $ | (25) |  |  | $ | (20) |
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 October 26, 2024 and July 27, 2024 (in millions):
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
October 26, 2024 | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. government securities | $ | 1,134 |  |  | $ | (11) |  |  | $ | 634 |  |  | $ | (13) |  |  | $ | 1,768 |  |  | $ | (24) |
U.S. government agency securities | 37 |  |  | — |  |  | 60 |  |  | (1) |  |  | 97 |  |  | (1) |
Non-U.S. government and agency securities | 26 |  |  | — |  |  | — |  |  | — |  |  | 26 |  |  | — |
Corporate debt securities | 221 |  |  | (1) |  |  | 2,402 |  |  | (76) |  |  | 2,623 |  |  | (77) |
U.S. agency mortgage-backed securities | 7 |  |  | — |  |  | 896 |  |  | (133) |  |  | 903 |  |  | (133) |
Commercial paper | 10 |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | — |
Total | $ | 1,435 |  |  | $ | (12) |  |  | $ | 3,992 |  |  | $ | (223) |  |  | $ | 5,427 |  |  | $ | (235) |
| 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) |
Maturities of Available-for-Sale Debt Investments | The following table summarizes the maturities of our available-for-sale debt investments as of October 26, 2024 (in millions):
| Amortized Cost |  | Fair Value
Within 1 year | $ | 4,045 |  |  | $ | 4,012 |
After 1 year through 5 years | 4,364 |  |  | 4,277 |
Mortgage-backed securities with no single maturity | 1,038 |  |  | 905 |
Total | $ | 9,447 |  |  | $ | 9,194 |

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