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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended 24 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Jun. 25, 2023
Jun. 29, 2025
Operating activities:        
Net loss $ (1,609.2) $ (864.2) $ (329.9)  
Net loss from discontinued operations 0.0 (290.6) (69.4)  
Net loss from continuing operations (1,609.2) (573.6) (260.5)  
Adjustments to reconcile net loss to cash used in operating activities from continuing operations:        
Depreciation and amortization 252.1 181.0 145.6  
Amortization and write-off of deferred financing costs 103.6 28.4 7.5  
Goodwill impairment 359.2 0.0 0.0 $ 359.2
Stock-based compensation 73.3 84.9 72.7  
Unrealized gain on equity investment (22.6) (18.5) 0.0  
Impairment of right-of-use assets 4.8 0.0 0.0  
Gain on sale of property (20.0) 0.0 0.0  
Loss on disposal or impairment of property and equipment 171.7 1.2 3.8  
Amortization of premium on investments, net (9.1) (27.5) (4.7)  
Paid-in-kind interest on long-term debt 83.2 0.0 0.0  
Deferred income taxes (10.3) 0.2 0.5  
Changes in operating assets and liabilities:        
Accounts receivable, net (31.4) 7.4 (4.6)  
Inventories 1.3 (152.3) (93.1)  
Prepaid expenses and other assets (47.1) (124.7) (20.8)  
Accounts payable (48.7) (45.8) 27.0  
Accrued salaries and wages and other liabilities 60.0 (50.2) (0.7)  
Contract liabilities and distributor-related reserves (22.5) 18.2 25.1  
Net cash used in operating activities of continuing operations (711.7) (671.3) (102.2)  
Net cash used in operating activities of discontinued operations 0.0 (54.3) (40.4)  
Cash used in operating activities (711.7) (725.6) (142.6)  
Investing activities:        
Purchases of property and equipment (1,271.4) (2,274.0) (949.6)  
Purchases of patent and licensing rights (5.3) (5.9) (4.9)  
Proceeds from sale of property and equipment 85.9 0.4 1.7  
Purchases of short-term investments (390.9) (1,601.1) (1,191.0)  
Proceeds from maturities of short-term investments 986.7 1,448.4 637.2  
Proceeds from sale of short-term investments 86.5 237.9 110.1  
Reimbursement of capital expenditures from incentives and investment credits 240.4 178.5 155.5  
Proceeds from sale of business 0.0 75.6 101.8  
Net cash used in investing activities of continuing operations (268.1) (1,940.2) (1,139.2)  
Net cash used in investing activities of discontinued operations 0.0 (3.1) (7.8)  
Cash used in investing activities (268.1) (1,943.3) (1,147.0)  
Financing activities:        
Proceeds from long-term debt borrowings 240.0 2,000.0 1,200.0  
Proceeds from convertible notes 0.0 0.0 1,750.0  
Payments of deferred financing costs (47.9) (46.0) (82.1)  
Cash paid for capped call transactions 0.0 0.0 (273.9)  
Proceeds from issuance of common stock 203.9 23.4 23.8  
Tax withholding on vested equity awards (3.9) (18.0) (19.2)  
Payments on long-term debt borrowings, including finance lease obligations (0.5) (0.4) (0.5)  
Incentive-related escrow refunds 10.0 0.0 0.0  
Commitment fees on long-term incentive agreement (1.5) (1.0) (1.0)  
Cash provided by financing activities 400.1 1,958.0 2,597.1  
Effects of foreign exchange changes on cash and cash equivalents 1.0 (0.2) 0.0  
Net change in cash and cash equivalents (578.7) (711.1) 1,307.5  
Cash and cash equivalents, beginning of period 1,045.9 1,757.0 449.5 1,757.0
Cash and cash equivalents, end of period $ 467.2 $ 1,045.9 $ 1,757.0 $ 467.2