Direxion Daily Semiconductors Bull 3x Shares (SOXL) surged 5% in pre-market trading on Tuesday, as the semiconductor sector rallied on renewed optimism over artificial intelligence spending.
Market sentiment was buoyed by reports that major North American cloud providers have raised their capital expenditure guidance for 2026, reinforcing the AI investment theme. The positive outlook ignited a broad rebound in chip stocks, with the A-share semiconductor sector also posting strong gains. Additionally, easing geopolitical tensions contributed to the risk-on mood.
The leveraged ETF, which seeks to deliver three times the daily performance of the ICE Semiconductor Index, benefited from the sector-wide strength as investors bet on sustained demand for AI-related chips and infrastructure.