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Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2026 | Dec. 31, 2025
--- | --- | ---
Assets |  |
Cash | $ 461,300 | $ 439,200
Short-term investments | 686,066 | 705,172
Cash and cash equivalents and short-term investments | 1,700,000 | 1,800,000
Restricted cash | 3,000 | 3,000
Restricted cash and cash equivalents and restricted investments | 2,000,000 | 1,900,000
Fair Value Measurements on a Recurring Basis |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 896,263 | 1,037,844
Total restricted cash equivalents and investments | 1,995,264 | 1,933,098
Total financial assets | 2,891,527 | 2,970,942
Fair Value Measurements on a Recurring Basis | Level 1 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 165,585 | 276,077
Total restricted cash equivalents and investments | 29,594 | 47,264
Total financial assets | 195,179 | 323,341
Fair Value Measurements on a Recurring Basis | Level 2 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 730,678 | 761,767
Total restricted cash equivalents and investments | 1,965,670 | 1,885,834
Total financial assets | 2,696,348 | 2,647,601
Fair Value Measurements on a Recurring Basis | Level 3 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Total financial assets | 0 | 0
Fair Value Measurements on a Recurring Basis | Money market funds |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 165,585 | 276,077
Total restricted cash equivalents and investments | 29,594 | 47,264
Fair Value Measurements on a Recurring Basis | Money market funds | Level 1 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 165,585 | 276,077
Total restricted cash equivalents and investments | 29,594 | 47,264
Fair Value Measurements on a Recurring Basis | Money market funds | Level 2 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Fair Value Measurements on a Recurring Basis | Money market funds | Level 3 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Fair Value Measurements on a Recurring Basis | Certificates of deposit |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 160,023 | 143,471
Total restricted cash equivalents and investments | 53,969 | 104,370
Fair Value Measurements on a Recurring Basis | Certificates of deposit | Level 1 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Fair Value Measurements on a Recurring Basis | Certificates of deposit | Level 2 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 160,023 | 143,471
Total restricted cash equivalents and investments | 53,969 | 104,370
Fair Value Measurements on a Recurring Basis | Certificates of deposit | Level 3 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Fair Value Measurements on a Recurring Basis | Commercial paper |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 176,741 | 216,525
Total restricted cash equivalents and investments | 1,064,040 | 922,364
Fair Value Measurements on a Recurring Basis | Commercial paper | Level 1 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Fair Value Measurements on a Recurring Basis | Commercial paper | Level 2 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 176,741 | 216,525
Total restricted cash equivalents and investments | 1,064,040 | 922,364
Fair Value Measurements on a Recurring Basis | Commercial paper | Level 3 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Fair Value Measurements on a Recurring Basis | Corporate bonds |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 316,419 | 267,491
Total restricted cash equivalents and investments |  | 15,037
Fair Value Measurements on a Recurring Basis | Corporate bonds | Level 1 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments |  | 0
Fair Value Measurements on a Recurring Basis | Corporate bonds | Level 2 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 316,419 | 267,491
Total restricted cash equivalents and investments |  | 15,037
Fair Value Measurements on a Recurring Basis | Corporate bonds | Level 3 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments |  | 0
Fair Value Measurements on a Recurring Basis | U.S. government and agency securities |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 77,495 | 134,280
Total restricted cash equivalents and investments | 847,661 | 844,063
Fair Value Measurements on a Recurring Basis | U.S. government and agency securities | Level 1 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Fair Value Measurements on a Recurring Basis | U.S. government and agency securities | Level 2 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 77,495 | 134,280
Total restricted cash equivalents and investments | 847,661 | 844,063
Fair Value Measurements on a Recurring Basis | U.S. government and agency securities | Level 3 |  |
Assets |  |
Total unrestricted cash equivalents and short-term investments | 0 | 0
Total restricted cash equivalents and investments | 0 | 0
Fair Value Measurements on Nonrecurring Basis | Cash and Cash Equivalents and Short-Term Investments |  |
Assets |  |
Cash | 461,300 | 439,200
Fair Value Measurements on Nonrecurring Basis | Cash and Cash Equivalents and Short-Term Investments | Money market funds |  |
Assets |  |
Short-term investments | $ 363,300 | $ 360,100

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