Direxion Daily Semiconductors Bull 3x Shares (SOXL) surged 5.11% in pre-market trading on Tuesday, reflecting strong investor optimism toward the semiconductor sector.

The rally appears driven by specific industry catalysts, including Micron Technology's announcement of plans to build a $24-billion chip manufacturing plant in Singapore to address global supply shortages. This significant capital investment signals confidence in long-term semiconductor demand and contributed to broad-based gains across chip stocks in pre-market trading.

Additional positive sentiment stems from bullish market forecasts, with research firm Omdia projecting China's semiconductor market to grow by 31.26% in 2026, reaching $546.5 billion. The report highlights strong demand driven by AI infrastructure development and memory chip supply constraints, while fund manager analysis points to technology growth as a key investment theme with particular optimism for semiconductor industry advancements and domestic substitution trends.