v3.25.2
Related-Party Transactions (Q2) (Details) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 14 Months Ended
Oct. 31, 2024
Jul. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
May 31, 2024
Sep. 30, 2024
Aug. 31, 2024
Oct. 31, 2022
Apr. 30, 2022
Oct. 31, 2021
Class of Warrant or Right [Line Items]                              
Ownership of company equity threshold eligibility for redeemable stock 5.00%             5.00%   5.00%          
Total principal of debt     $ 11,171,485,000   $ 11,171,485,000   $ 8,033,477,000 $ 1,555,049,000              
Interest expense     256,162,000 $ 67,097,000 513,533,000 $ 107,600,000 349,203,000 26,967,000 $ 8,374,000            
Strategic investments     117,220,000 50,000,000 $ 117,220,000 50,000,000 $ 102,220,000 42,087,000              
MagAI Capacity Agreement                              
Class of Warrant or Right [Line Items]                              
Face amount                       $ 230,000,000      
2021 Convertible Senior Secured Notes | Related Party | Senior Secured Notes Involving Magnetar                              
Class of Warrant or Right [Line Items]                              
Term of right         1 year   1 year                
Rights exercised (in shares)         0                    
Face amount                           $ 50,000,000 $ 20,000,000
2022 Senior Secured Notes | Related Party                              
Class of Warrant or Right [Line Items]                              
Repayments of debt   $ 137,000,000                          
2022 Senior Secured Notes | Related Party | Senior Secured Notes Involving Magnetar                              
Class of Warrant or Right [Line Items]                              
Face amount                         $ 125,000,000    
Repurchase amount   137,000,000                          
Total principal of debt               124,000,000              
DDTL 1.0 Facility                              
Class of Warrant or Right [Line Items]                              
Face amount             $ 2,300,000,000                
Total principal of debt             2,000,000,000 1,400,000,000              
DDTL 1.0 Facility | Related Party | Facilities Managed By Magnetar                              
Class of Warrant or Right [Line Items]                              
Total principal of debt     388,000,000   $ 388,000,000   438,000,000 311,000,000              
Repayments of debt     30,000,000 5,000,000 55,000,000 5,000,000 63,000,000 0              
Interest expense     14,000,000 18,000,000 29,000,000 31,000,000 66,000,000 $ 6,000,000              
DDTL 2.0 Facility                              
Class of Warrant or Right [Line Items]                              
Face amount             3,800,000,000                
DDTL 2.0 Facility | Related Party | Facilities Managed By Magnetar                              
Class of Warrant or Right [Line Items]                              
Total principal of debt     137,000,000   137,000,000   106,000,000     $ 106,000,000          
Repayments of debt             0                
Interest expense     3,000,000 $ 0 6,000,000 $ 0 3,000,000                
Magnetar Loan                              
Class of Warrant or Right [Line Items]                              
Face amount     230,000,000   230,000,000                    
Total principal of debt     256,630,000   256,630,000   $ 0                
Interest expense         27,000,000                    
Debt, current     257,000,000   257,000,000                    
Magnetar Loan | Related Party | MagAI Capacity Agreement                              
Class of Warrant or Right [Line Items]                              
Face amount     230,000,000   230,000,000                    
Interest expense     $ 8,000,000   $ 27,000,000                    
Common Class A | 2021 Convertible Senior Secured Notes | Related Party | Senior Secured Notes Involving Magnetar                              
Class of Warrant or Right [Line Items]                              
Warrants                     $ 15,000,000       $ 15,000,000
Number of issuable shares by rights (in shares)                             375,000
Stock price (usd per share)     $ 40   $ 40                    
Common Class A | 2022 Senior Secured Notes | Related Party | Senior Secured Notes Involving Magnetar                              
Class of Warrant or Right [Line Items]                              
Number of issuable shares by rights (in shares)                         12,144,668    
Repurchase amount   $ 137,000,000                          
Right for common stock outstanding 5.00%                       5.00%