Direxion Daily Semiconductors Bull 3x Shares (SOXL) surged 13.21% at the open on Friday, extending a powerful rebound fueled by a confluence of positive catalysts across the semiconductor sector. The leveraged ETF, which seeks to deliver three times the daily performance of an index of major U.S.-listed chip stocks, rode a wave of bullish sentiment that had already pushed it sharply higher in pre-market trading.

The rally was triggered by a combination of deeply oversold conditions and fundamentally bullish news. The fund had previously suffered a cumulative decline of over 40% from its highs, creating intense technical repair demand. Sentiment shifted dramatically after Samsung Electronics reported a staggering 250-fold increase in its semiconductor division’s second-quarter profit, driven by robust AI chip demand. United Microelectronics (UMC) also delivered better-than-expected results and raised its capital expenditure guidance to approximately $5 billion. Adding to the positive momentum, Bank of America flagged a medium-to-long-term allocation window for the semiconductor sector, while strong earnings from Lam Research and upbeat AI infrastructure commentary reinforced confidence that industry fundamentals remain solid. These factors collectively encouraged dip-buying capital to flow back into chip stocks, and SOXL’s 3x daily leverage amplified the sector’s recovery as the regular session began.