With more than half of second quarter earnings reported and stocks near record highs, company results have reassured investors about the artificial intelligence trade that has energized Wall Street, even if tariff worries curtailed buying.

Helped by higher advertising and a growing user base on its social media platforms, Meta earned $18.34 billion in the quarter, a 36% increase over the same quarter a year ago. Revenue jumped 22%.

Stocks capped a choppy day of trading on Wall Street with more losses Thursday after an early big tech rally faded and a health care sector pullback led the market lower. The benchmark index, which is just below the record high it set on Monday,

If the company’s core business continues growing at the current rate and its Superintelligence efforts gain traction, “there’s no telling what the ceiling is for Meta,” Bernstein analysts said.

Stocks rose in morning trading on Wall Street Thursday and are on track for more record highs amid rallies for big technology stocks. The S&P 500 rose 0.2% and is just below the record high it set on Monday.

Amazon.com shares AMZN.O fell 7% on Friday as the tech giant's results fanned investor fears its cloud unit was falling behind Microsoft and Alphabet in the artificial intelligence race.