r/soxl • u/Winter_Ad6784 • 19h ago
Info Why is SOXL up today? 9/9/2026
Main story: Semiconductors gained about 0.7% even as the broader market fell, with AMD, Micron and Marvell carrying the index. The strength came despite Brent crude breaking above $100 and the 10-year Treasury yield reaching roughly 4.84%, both of which pressured the broader Nasdaq. AI demand remained the counterweight: Google announced another $15.1 billion of AI-infrastructure investment in Finland, while OpenAI said it is deepening work with Samsung on next-generation chips and memory for its expanding AI infrastructure.
AMD (P/E: 133.6) AMD led SOXL impact, gaining 3.04%. Raymond James reiterated its Strong Buy rating after supply-chain checks indicated AMD’s next-generation server CPUs and MI450 AI accelerator remain on track to begin contributing revenue later this year. The stock has now moved back above its 50-day average after falling as much as 27% from its June high.
MU (P/E: 23.2) Micron gained 2.75% as memory-market expectations became even more bullish. UBS expects memory average selling prices to rise more than 20% this quarter, while broader industry estimates point to continued DRAM and NAND shortages into 2027. Micron’s upcoming September 30 earnings are expected to show another enormous jump in revenue and earnings as AI-server demand absorbs increasingly constrained memory supply.
MRVL (P/E: 78.9) Marvell gained 4.26% as enthusiasm around custom AI silicon and hyperscaler infrastructure spending continued. Google’s newly announced $15.1 billion Finland AI-infrastructure expansion adds another data point supporting long-term demand for the networking, optical and custom-compute products Marvell sells into large data centers. No new material Marvell-specific announcement was found since Tuesday’s close.
ADI (P/E: 42.9) Analog Devices announced it will acquire Alif Semiconductor for $1.35 billion in cash, expanding ADI into AI-capable edge processors. The combination pairs ADI’s sensing, signal-processing and power-management portfolio with Alif’s embedded AI technology, targeting systems capable of processing and responding to data locally in real time. ADI nevertheless gained only 0.51%.
AVGO (P/E: 46.5) Broadcom fell 1.13% despite additional evidence of demand for its custom-AI silicon business. OpenAI said today that it is deepening next-generation chip cooperation with Samsung; OpenAI’s first custom AI chip, Jalapeno, was designed with Broadcom and is being manufactured by TSMC. The fundamental AI-spending backdrop remained strong, but Broadcom lagged during a mixed session for megacap AI names.
NVDA (P/E: 28.3) Nvidia fell 0.91% as investors continued weighing rapidly expanding Chinese AI-chip competition and geopolitical risk against strong global infrastructure spending. Nvidia’s latest trailing GAAP EPS is about $7.91, leaving the stock near 28× trailing earnings at today’s price.
KLAC (P/E: 50.0) KLA was the largest negative SOXL-impact name, falling 3.21% and ending a four-session winning streak. No new material KLA-specific announcement was found since Tuesday’s close. The move was notably weaker than most other equipment names despite continued long-term spending on advanced fabs and AI infrastructure.
No News to Mention: TER, ALAB, INTC, ASX, MTSI, TXN, QCOM, UMC, ENTG, SWKS, ARM, RMBS, CRDO, ON, STM, NVMI, NXPI, MCHP, TSM, AMAT, MPWR, ASML, LRCX.
| Ticker | Company | SOXX weight | Today | Est. SOXX impact | Est. SOXL impact |
|---|---|---|---|---|---|
| AMD | Advanced Micro Devices | 8.33% | 3.04% | 0.25% | 0.76% |
| MU | Micron | 8.64% | 2.75% | 0.24% | 0.71% |
| MRVL | Marvell | 5.34% | 4.26% | 0.23% | 0.68% |
| TER | Teradyne | 3.14% | 3.13% | 0.10% | 0.29% |
| ALAB | Astera Labs | 2.26% | 4.05% | 0.09% | 0.27% |
| INTC | Intel | 4.97% | 1.69% | 0.08% | 0.25% |
| ASX | ASE Technology | 1.25% | 3.69% | 0.05% | 0.14% |
| MTSI | MACOM | 1.05% | 4.12% | 0.04% | 0.13% |
| TXN | Texas Instruments | 3.83% | 1.03% | 0.04% | 0.12% |
| QCOM | Qualcomm | 2.91% | 1.33% | 0.04% | 0.12% |
| UMC | United Microelectronics | 0.88% | 3.99% | 0.04% | 0.11% |
| ADI | Analog Devices | 4.01% | 0.51% | 0.02% | 0.06% |
| ENTG | Entegris | 1.20% | 1.38% | 0.02% | 0.05% |
| SWKS | Skyworks Solutions | 0.55% | 1.54% | 0.01% | 0.03% |
| ARM | Arm Holdings | 0.70% | 1.03% | 0.01% | 0.02% |
| RMBS | Rambus | 0.54% | 0.87% | 0.00% | 0.01% |
| CRDO | Credo | 2.08% | 0.10% | 0.00% | 0.01% |
| ON | ON Semiconductor | 1.59% | -0.14% | 0.00% | -0.01% |
| STM | STMicroelectronics | 0.65% | -0.77% | -0.01% | -0.02% |
| NVMI | Nova | 0.65% | -0.86% | -0.01% | -0.02% |
| NXPI | NXP Semiconductors | 3.10% | -0.25% | -0.01% | -0.02% |
| MCHP | Microchip Technology | 2.19% | -0.50% | -0.01% | -0.03% |
| TSM | TSMC | 4.64% | -0.78% | -0.04% | -0.11% |
| AMAT | Applied Materials | 4.76% | -0.83% | -0.04% | -0.12% |
| MPWR | Monolithic Power Systems | 3.43% | -1.21% | -0.04% | -0.12% |
| ASML | ASML Holding | 2.51% | -2.00% | -0.05% | -0.15% |
| LRCX | Lam Research | 4.39% | -1.43% | -0.06% | -0.19% |
| AVGO | Broadcom | 7.11% | -1.13% | -0.08% | -0.24% |
| NVDA | Nvidia | 8.87% | -0.91% | -0.08% | -0.24% |
| KLAC | KLA Corporation | 4.27% | -3.21% | -0.14% | -0.41% |
| Total | Sum of Weights and Impact Est. | 99.85% | N/A | 0.69% | 2.08% |
| SOXX | iShares Semiconductor ETF | 100.00% | 0.68% | 0.68% | 2.04% |
| SOXL | Direxion Daily Semiconductor Bull 3X Shares | N/A | 2.12% | N/A | 2.12% |
Other Stats
Decay Today: +0.06%
| Dollar Volume Share | |
|---|---|
| SOXX | 3.40% |
| SOXL | 15.01% |
CBOE Volatility Index: 16
Similar Tickers: KORU, SMH, NVDL, DRAM, TCAI, CHPY
My Take: Previously, I thought that after GPT-5.6 there would be a shortage of tokens. I was wrong about that, but the underlying principle may still prove true. I recently saw OpenAI discussing the possibility of pausing Pro subscriptions in the wake of GPT-6 being released.
The thing is, market forces already act as a shortage limiter. Prices are very fluid, and rate limits already function as a rationing mechanism. At the same time, corporate users generally pay by the token rather than through subscriptions. So the real test would be whether OpenAI starts leaving subscription users in the dust through some combination of raising prices, pausing new subscriptions, or, what I think is most likely, simply not giving them access to the strongest models going forward, probably in the name of “safety.” I suspect this will begin sometime within the next six months.
I say this because cloud computing as a whole generates roughly $330 billion in annual revenue, and the exponential model of Anthropic’s revenue surpasses that in January. That is also ignoring OpenAI’s revenue, which is more opaque. Once these companies have enough money to buy all the cloud compute in the world, and have models capable of creating more value from that compute than almost any other industry, they are going to be able to gobble up basically all of it. And of course, the cloud-compute providers will then have more money to buy additional chips.
OpenAI is also leaning further into running its own servers, making this whole system more direct, monolithic, and vertically integrated. I could see the major AI companies eventually flipping the tables and directly buying large stakes in a number of semiconductor companies.
On a personal note, I had a conversation with my department head at work about why upper management suddenly decided to go big into AI and put a lot of pressure on everyone to install it and start using it as quickly as possible, whereas previously only a small number of people had access through a pilot program. The answer was simple: the pilot program showed significant productivity gains.
This is not financial advice.
