Direxion Daily TSLA Bull 2X Shares (TSLL), a leveraged exchange-traded fund tracking Tesla Inc., surged 5.11% during intraday trading on Monday. The significant move in the bullish Tesla ETF follows major corporate developments from the electric vehicle maker that have captured investor optimism.
The sharp rise is attributed to the recent announcement of Tesla's "Terafab" project, a super chip factory venture jointly operated with SpaceX. Unveiled by Elon Musk, the initiative aims to produce over 1 terawatt of computing power annually using advanced 2nm process technology, integrating logic chips, memory, and advanced packaging. Analysts view this as a strategic pivot for Tesla's next growth phase, shifting focus from battery capacity to chip supply and AI hardware, which is critical for its Robotaxi and Optimus humanoid robot ambitions.
Furthermore, the positive sentiment is bolstered by Tesla's reported plan to purchase approximately $29 billion worth of Chinese solar equipment. The back-to-back announcements—advancing solar manufacturing integration and launching a landmark semiconductor project—have reinforced Tesla's narrative as a leader in new quality productive forces, including renewable energy and technological self-reliance, driving bullish bets on its future growth.
