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.

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

Netflix shot up 14.6% after it reported adding nearly 19 million subscribers during the holiday-season quarter and it topped sales and profit targets. The video streaming service’s expansion into live programming appears to be paying off as it wrapped up its best year ever with more than $40 billion in revenue.