We are exposed to market risk in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. Our market risk exposure is primarily the result of fluctuations in interest rates. Foreign Currency and Exchange Risk The functional currency for our subsidiaries located in Canada and India is the local currency of the country in which the subsidiary operates. The functional currency of our subsidiary in France is the U.S. dollar. Accordingly, we are exposed to foreign currency translation risk related to subsidiaries whose functional currencies are not the U.S. dollar and foreign currency transaction remeasurement risk when transactions are denominated in a currency other than the applicable entity’s functional currency. However, we engage in a small number of and immaterial transactions outside of the functional currency of the reporting unit, resulting in negligible exposure to foreign currency risk. We have not hedged such exposure, although we may do so in the future if our exposure to foreign currency risk increases. A hypothetical 10% change in the relative value of the U.S. dollar would not have a material effect on our unaudited condensed consolidated financial statements for the periods presented. Interest Rate Risk We had cash, cash equivalents, and restricted cash of $7.4 billion as of June 30, 2026. Cash and cash equivalents primarily consist of amounts deposited in money market instruments with financial institutions and having original maturity of three months or less. We hold cash and cash equivalents for working capital purposes. Due to the short-term nature of our investments, we have not been exposed to, nor do we anticipate being exposed to, material risks due to changes in interest rates. A hypothetical 10% change in interest rates would increase or decrease other income, net by $22.0 million. As of June 30, 2026, we had $918.2 million outstanding under the Working Capital Loan with OpenAI. This note bears interest at a fixed rate of 6.0% per annum. The note permits repayment in cash or through the delivery of services under the related commercial arrangement, and accrued interest attributable to amounts repaid through the delivery of services is deemed paid in accordance with the terms of the note. Because the interest rate on the note is fixed and does not reset based on changes in SOFR, prime, or another market interest rate, changes in market interest rates would not affect the contractual interest rate or related interest expense recognized on the note. A hypothetical 10% change in interest rates would not have a material effect on our unaudited condensed consolidated financial statements for the periods presented. 42 Table of Contents