Nvidia stock (NVDA) closed at a record high on Thursday, rising 1.3% amid a broader market rally and putting shares one step closer to unseating Apple (AAPL) as the most valuable company in market history.

Nvidia (NVDA) shares jumped to an all-time high of $160.93 during morning trade on Thursday, on track to become the most valuable company in history. Nvidia’s stock had pared some of its gains at the time of writing,

Nvidia briefly surpassed the $3.92-trillion mark on July 3, edging close to becoming the most valuable company in history.