Stock Track | SOXL Soars 5.08% in After-Hours as Alphabet's AI Spending Plans Fuel Chip Rally

Stock Track

Feb 05

The Direxion Daily Semiconductors Bull 3x Shares (SOXL) surged 5.08% in after-hours trading, highlighting a significant upward movement for the leveraged semiconductor ETF.

The rally was driven by news that Alphabet Inc. plans to potentially double its capital expenditure this year to aggressively invest in artificial intelligence infrastructure. This announcement sparked optimism for increased demand in the semiconductor sector, leading to broad gains for chip and storage stocks during the extended session.

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