The Tradr 2X Long SNDK Daily ETF (SNXX) surged 5.16% during intraday trading on Tuesday, reflecting strong investor optimism toward its underlying asset, SanDisk Corp.

The movement comes amid growing Wall Street conviction in an ongoing "memory chip super cycle" driven by artificial intelligence infrastructure needs. Citi Group has raised its price target for SanDisk by over 50% to $2,025, citing sustained pricing momentum and seemingly limitless storage demand fueled by AI training and inference workloads.

Analysts highlight that the proliferation of AI Agent tools is shifting the AI compute bottleneck toward data storage, igniting a "storage super cycle." This trend, coupled with long-term agreements that are reshaping storage manufacturers' pricing power, has led to a significant revaluation of memory chip stocks, directly benefiting leveraged ETFs tracking companies like SanDisk.