Why is Direxion Daily Semiconductor Bull 3X Shares surging today? By Investing.com

Direxion Daily Semiconductor Bull 3X Shares (SOXL) surged 9.5% in afternoon trading, reaching $198.63, as the fund’s 3x daily leverage amplified a broad rebound across semiconductors. The move follows a sharp selloff days earlier that rattled chip stocks after the sector gained more than 80% in the first half of 2026, with Micron dropping more than 10% in that selloff session. Today’s dip-buying partially reversed losses, and SOXL translated the sector recovery into outsized gains, touching a session high of $210.80 before easing. The article links the broader rally to renewed confidence in artificial intelligence infrastructure spending, citing that AI chip stocks added a combined $2 trillion in market value in July 2026 and that the Philadelphia Semiconductor Index is up more than 47% year-to-date. It also references expected or announced capital expenditures: Microsoft plans to invest over $80 billion in AI data centers in fiscal 2026, Alphabet about $75 billion, and Meta $60–65 billion, primarily tied to AI.