Wall Street rallied on Thursday to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month.

Nvidia share price rose as much as 2.4% in intraday trading to $160.98, briefly valuing the company at $3.92 trillion — surpassing Apple’s record closing market cap of $3.915 trillion set on December 26,