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.

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