Direxion Daily Semiconductors Bull 3x Shares (SOXL) surged 10.71% over the past 24 hours, as a powerful technical rebound in semiconductor stocks gained further momentum. The leveraged ETF, which provides three times the daily performance of U.S. semiconductor stocks, benefited from a broad risk-on session that saw the Nasdaq Composite advance 2.78%.

The rally was fueled by multiple positive catalysts across the chip sector. Samsung Electronics reported a staggering 250-fold increase in its semiconductor division's Q2 profit, driven by robust AI chip demand, which significantly boosted sentiment. United Microelectronics (UMC) also delivered better-than-expected results and raised its capital expenditure guidance, while Bank of America flagged a medium-to-long-term allocation window for semiconductors. Additionally, strong earnings from Lam Research and positive guidance from other tech giants reinforced confidence that the sector's fundamentals remain solid, encouraging dip-buying capital to flow back into chip stocks.

The ETF had previously suffered a cumulative decline of over 40% from its highs, triggering intense technical repair demand from extreme oversold conditions. With the 3x daily leverage amplifying the sector's recovery, SOXL staged a dramatic rebound as investors returned to the semiconductor space, extending gains into after-hours trading.