v3.25.2
Debt - Schedule of Debt (Q2) (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]      
Total principal of debt $ 11,171,485 $ 8,033,477 $ 1,555,049
Less: Unamortized discount and issuance costs (119,984) (107,137) (31,795)
Total debt, net of unamortized discount and issuance costs 11,051,501 7,926,340 1,523,254
Less: Debt, current (3,627,664) [1] (2,468,425) [1] (171,865)
Total debt, non-current [1] 7,423,837 $ 5,457,915 1,351,389
DDTL 1.0 Facility      
Debt Instrument [Line Items]      
Effective Interest Rates   1.00%  
Total principal of debt   $ 2,000,000 1,400,000
OEM Financing Arrangements      
Debt Instrument [Line Items]      
Total principal of debt $ 1,728,388 $ 1,177,158 0
OEM Financing Arrangements | Minimum      
Debt Instrument [Line Items]      
Effective Interest Rates 9.00% 9.00%  
OEM Financing Arrangements | Maximum      
Debt Instrument [Line Items]      
Effective Interest Rates 10.00% 11.00%  
Magnetar Loan      
Debt Instrument [Line Items]      
Effective Interest Rates 12.00%    
Total principal of debt $ 256,630 $ 0  
Line of Credit | Revolving Credit Facility      
Debt Instrument [Line Items]      
Effective Interest Rates 7.00%    
Total principal of debt $ 450,000 $ 0  
Line of Credit | DDTL 1.0 Facility      
Debt Instrument [Line Items]      
Effective Interest Rates 15.00% 15.00%  
Total principal of debt $ 1,782,500 $ 2,012,500 1,374,924
Line of Credit | DDTL 2.0 Facility      
Debt Instrument [Line Items]      
Effective Interest Rates 11.00% 11.00%  
Total principal of debt $ 4,953,967 $ 3,843,819 0
Line of Credit | 2024 Term Loan Facility      
Debt Instrument [Line Items]      
Effective Interest Rates 12.00% 12.00%  
Total principal of debt $ 0 $ 1,000,000 $ 0
Senior Notes | 2030 Senior Notes      
Debt Instrument [Line Items]      
Effective Interest Rates 10.00%    
Total principal of debt $ 2,000,000 $ 0  
[1] Refer to Note 14—Related-Party Transactions for further information on related party arrangements.