Tradr 2X Long SNDK Daily ETF (SNXX) soared 9.71% intraday on Monday, reflecting strong investor interest in the leveraged exchange-traded fund that tracks SanDisk (SNDK).

The rally is primarily driven by SanDisk's disclosure of a new patent for stacking NAND flash memory beneath compute chips, an innovation aimed at resolving storage capacity bottlenecks caused by surging artificial intelligence compute demands. This addresses a critical industry challenge as AI workloads expose performance limitations in current architectures.

The broader storage sector has maintained exceptional strength, with SanDisk previously posting significant gains year-to-date. The company's financial recovery, highlighted by a recent quarterly net profit of $4.53 billion reversing prior losses, further supports positive sentiment toward the underlying asset and its tracking ETF.