Netflix, Oracle and other big technology stocks lifted Wall Street Wednesday as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 rose 0.

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

Netflix stock (NFLX) surged, after the streaming service reported the highest-ever level of quarterly subscriber gains and said it plans to raise U.S. prices across the board. In recent premarket action,

Wall Street closed higher, with the S&P 500 index scoring an all-time high. Blowout Netflix results and plans for $500b AI investment fuel gains.

Technically, the stock’s price is likely to drop back into a “normal” range around $930 over the next week of trading. From there, expect to see a consolidation that will lead to a robust trend towards a target price above $1,000.

Analysts predicted live sports might power a Netflix subscriber beat. But as the company trounced the expectations, management said sports drove only a “small minority” of additions.

What Happened? Shares of streaming video giant Netflix (NASDAQ: NFLX) jumped 15.4% in the pre-market session after the company reported impressive fourth-quarter results, which blew past analysts' global streaming paid memberships expectations,