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.

The Dow Jones Industrial Average was up 136 points, or 0.3%, as of 11:55 a.m. Eastern time. The Nasdaq composite was 1.5% higher.