Netflix Inc. shares soared to a record high on Wednesday after the streaming giant reported its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game.

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.

The company raised subscription prices across most plans in the U.S. and several other markets. It added 19 million subscribers in the fourth quarter of last year.