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Stockholders’ Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders’ Equity Stockholders' Equity
Preferred Stock
The Company is authorized to issue 1,000 million shares of preferred stock with a par value of $0.00001 per share. There were no shares of preferred stock issued and outstanding at June 30, 2026 and December 31, 2025.
Common Stock
The Company is authorized to issue 51,000 million shares of common stock with a par value of $0.00001 per share; of which 50,000 million shares are designated Class A common stock and 1,000 million shares are designated Class B common stock. Class A common stockholders are entitled to one vote for each share and Class B common stockholders are entitled to ten votes for each share. Class A and Class B have identical liquidation and dividend rights. Class B shares are convertible into Class A upon election by the holder or upon transfer (except for certain permitted transfers).
The Company had 1,702 million and 1,625 million shares of Class A common stock issued and outstanding at June 30, 2026 and December 31, 2025, respectively. The Company had 296 million and 318 million shares of Class B common stock issued and outstanding at June 30, 2026 and December 31, 2025, respectively.
At-The-Market Offering
On February 14, 2025, the Company entered into a sales agreement with Cantor Fitzgerald & Co., TD Securities (USA) LLC, and Allen & Company LLC (the “Sales Agents”) pursuant to which the Company may offer and sell, from time to time and at its sole discretion, up to an aggregate amount of $500 million of the Company’s Class A common stock through the Sales Agents in an “at-the-market” offering (the “ATM Program”). On July 30, 2025, the Company increased the aggregate dollar amount of the Company’s Class A common stock that it may sell under the ATM Program to $1,421 million, of which $1,000 million remained available to be sold as of the date thereof.
During the three months ended June 30, 2026, the Company offered and sold approximately 30 million shares of Class A common stock through the ATM Program at an average price of $7.50 per share, for net proceeds of $215 million after transaction costs.
During the six months ended June 30, 2026, the Company offered and sold approximately 33 million shares of Class A common stock through the ATM Program at an average price of $7.24 per share, for net proceeds of $229 million after transaction costs.