U.S. stock indexes rose on Wednesday due to stronger-than-expected earnings from major tech companies and growing optimism for AI.

Netflix, Oracle and other technology stocks lifted U.S. indexes as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 rose 0.6% Wednesday and closed just shy of the record it set in early December.

Streaming giant Netflix (NASDAQ:NLFX) trounced Wall Street expectations with a fourth quarter earnings report that excelled across the board. Sales, profits, and subscriber numbers all surged year-over-year and sequentially as new programming and sports offering drew in record views.