Direxion Daily MU Bull 2X Shares (MUU) surged 8.54% during Monday's night session, reflecting strong positive sentiment toward its underlying asset, Micron Technology.

The rally appears to be driven by an optimistic industry outlook from Micron Technology, which indicated that the global AI computing race is creating a multi-year supply shortage for memory chips. According to the company's management, supply constraints for critical components like HBM, DRAM, and NAND are expected to extend well beyond 2026 due to robust AI application demand and structural limitations on rapid capacity expansion.

JPMorgan reinforced this view in an investment report, citing greater confidence in a multi-year bull market for the AI memory segment. Micron highlighted that supply growth is constrained by narrowing performance improvements for new chips and larger die sizes for HBM, which reduce output per wafer. The company also noted that its 1-gamma process node is expected to be its highest-volume DRAM node ever, and that AI inference workloads are creating new growth opportunities for its SSD business.