Direxion Daily Semiconductor Bull 3X ETF Explodes

SOXL jumped 12.52% Thursday as two major semiconductor supply agreements energized the sector, with the 3x leveraged ETF amplifying gains that pushed the Nasdaq up 1.2%.

Micron drove the rally with a $3 billion commitment to U.S. semiconductor supply chain infrastructure, including a $500 million loan to GlobalWafers paired with a 10-year wafer purchase agreement. The deal secures Micron's access to a critical raw material while bolstering domestic chip production capacity.

Meta added fuel with a trio of multi-year supply contracts: NAND flash memory from SanDisk, DRAM from Samsung, and AI chips from Taiwan Semiconductor Manufacturing. Broadcom will handle chip design for Meta's custom silicon push. The agreements signal Meta's determination to lock in chip supply for its AI infrastructure buildout.

The Direxion Daily Semiconductor Bull 3X ETF multiplied underlying sector momentum through its leveraged structure, delivering returns roughly 10x the broader market's move.