Market Surge Driven by Semiconductor Investments
On Thursday at 2 p.m., the Nasdaq rose by 1.2%, while the Direxion Daily Semiconductor Bull 3X Shares ETF (NYSEMKT: SOXL) surged over 14.1% following significant announcements in the semiconductor sector. Micron (NASDAQ: MU) gained nearly 8% after revealing a plan to invest up to $3 billion to bolster the U.S. semiconductor supply chain, which includes a $500 million loan to GlobalWafers for a silicon wafer manufacturing facility in Sherman, Texas.
In related news, Meta Platforms (NASDAQ: META) signed a multi-year agreement for NAND flash memory with SanDisk (NASDAQ: SNDK) and is set to spend $145 billion this year on AI infrastructure, which includes sourcing components from major players like Samsung and Taiwan Semiconductor Manufacturing (NYSE: TSM).
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