Leverage Shares 2X Long AVGO Daily ETF is trading 6.8% higher at $49.95 in pre-market action as traders increase exposure to Broadcom (AVGO) ahead of its Q2 earnings release and on strong AI-related sentiment.
- The rally extends a multi-day surge tied to enthusiasm for AI accelerators and data-center chips, following a double-digit gain for the ETF on June 2.
- Broadcom is increasingly viewed as a key beneficiary of accelerating AI infrastructure spending, with investors positioning for a positive revenue outlook in the upcoming quarterly report.
- While broader macro futures remain mixed, AI-linked semiconductor names continue to outperform as market participants focus on the sector's growth trajectory.