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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (2,063,195) $ (905,603)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 238,634 209,047
Amortization of insurance premium 19,287 17,485
Non-cash operating lease cost 33,197 19,758
Stock-based compensation 107,639 83,834
Inventory and firm purchase commitments write-downs 527,588 327,806
Change in fair value of common stock warrant liability 0 (18,183)
Change in fair value of equity securities of a related party 9,672 9,505
Change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party) (110,165) (393,175)
Net accretion of investment discounts/premiums (1,090) (19,062)
Gain on extinguishment of debt 0 (116,360)
Other non-cash items 2,140 9,300
Changes in operating assets and liabilities:    
Accounts receivable (including $(66,041) and $(5,599) from a related party for the six months ended June 30, 2026 and 2025, respectively) (48,269) (13,260)
Inventory (845,554) (586,043)
Prepaid expenses (30,672) (27,677)
Other assets (82,290) (55,824)
Accounts payable (138,365) 58,513
Other liabilities (26,447) 141,085
Net cash used in operating activities (2,407,890) (1,258,854)
Cash flows from investing activities:    
Purchases of property, plant and equipment (including $(117,355) and $(67,668) from a related party for the six months ended June 30, 2026 and 2025, respectively) (506,994) (343,904)
Proceeds from maturities of investments (including $50,000 and nil from a related party for the six months ended June 30, 2026 and 2025, respectively) 177,228 1,961,485
Proceeds from sale of investments 951,125 0
Purchases of investments (including nil and $(30,000) from a related party for the six months ended June 30, 2026 and 2025, respectively) (28,512) (309,557)
Net cash provided by investing activities 592,847 1,308,024
Cash flows from financing activities:    
Proceeds from issuance of 2030 Notes 0 1,100,000
Purchase of capped calls 0 (118,250)
Repurchase of 2026 Notes 0 (931,433)
Proceeds from borrowings from related parties 535,994 106,645
Proceeds from exercise of stock options 2,785 1,274
Proceeds from employee stock purchase plan 9,833 12,696
Tax withholding payments for net settlement of employee awards (1,311) (9,449)
Payment for finance lease liabilities (2,461) (1,376)
Net cash provided by financing activities 1,581,096 141,676
Net increase (decrease) in cash, cash equivalents, and restricted cash (233,947) 190,846
Beginning cash, cash equivalents, and restricted cash 1,040,913 1,607,052
Ending cash, cash equivalents, and restricted cash 806,966 1,797,898
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 68,948 16,387
Cash paid for taxes 2,585 3,405
Supplemental disclosure of non-cash investing and financing activity:    
Increases in purchases of property, plant and equipment included in accounts payable and other current liabilities 66,400 12,399
Property, plant and equipment and right-of-use assets obtained through leases 41,290 143,403
Decrease in property, plant, and equipment related to finance lease asset remeasurements (79,262) 0
Related Party    
Changes in operating assets and liabilities:    
Accounts receivable (including $(66,041) and $(5,599) from a related party for the six months ended June 30, 2026 and 2025, respectively) (66,041) (5,599)
Cash flows from investing activities:    
Purchases of property, plant and equipment (including $(117,355) and $(67,668) from a related party for the six months ended June 30, 2026 and 2025, respectively) (117,355) (67,668)
Proceeds from maturities of investments (including $50,000 and nil from a related party for the six months ended June 30, 2026 and 2025, respectively) 50,000 0
Purchases of investments (including nil and $(30,000) from a related party for the six months ended June 30, 2026 and 2025, respectively) 0 (30,000)
Cash flows from financing activities:    
Payments for credit facility issuance costs to related parties (3,750) (507)
Series C Derivative Liability    
Cash flows from financing activities:    
Proceeds from issuance of Series C redeemable convertible preferred stock to a related party 550,000 0
Payments of issuance costs for Series C redeemable convertible preferred stock (750) 0
2026 Underwriting Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock 292,500 0
Payments of issuance costs (579) 0
2026 Subscription Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock 200,000 0
2031 Notes    
Cash flows from financing activities:    
Payments of transaction costs (1,165) 0
2030 Notes    
Cash flows from financing activities:    
Payments of transaction costs 0 (17,924)
Change in fair value of common stock warrant liability    
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of common stock warrant liability $ 0 $ (18,183)