{"id":51609,"date":"2026-07-24T06:47:08","date_gmt":"2026-07-24T06:47:08","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/the-ai-trade-is-entering-its-proof-phase\/"},"modified":"2026-07-24T06:47:08","modified_gmt":"2026-07-24T06:47:08","slug":"the-ai-trade-is-entering-its-proof-phase","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/featured\/the-ai-trade-is-entering-its-proof-phase\/","title":{"rendered":"Yapay Zek\u00e2 Temas\u0131 Kan\u0131tlanma A\u015famas\u0131na Giriyor"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2026\/07\/SemiconductorAIProof-1024x573.webp\" alt=\"\u0130zometrik pastel ill\u00fcstrasyon: \u0130n\u015faat halindeki bir \u015fehre ba\u011fl\u0131 platform \u00fczerindeki y\u00fcksek teknolojili veri merkezi, vin\u00e7ler ve pembe-mavi tonlar (k\u00f6\u015fede VT logosu).\" class=\"wp-image-62693\"\/><figcaption\">Yapay zek\u00e2 b\u00fcy\u00fcmesi bilan\u00e7o s\u0131nav\u0131nda<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Yapay zek\u00e2 (AI) patlamas\u0131, dot-com d\u00f6nemine benziyor. \u015eirketler, talep tam olu\u015fmadan altyap\u0131ya b\u00fcy\u00fck yat\u0131r\u0131m yap\u0131yor; bug\u00fcnk\u00fc harcaman\u0131n gelecekteki kullan\u0131m ile kar\u015f\u0131l\u0131\u011f\u0131n\u0131 verece\u011fine inan\u0131yor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fark \u015fu: Bug\u00fcnk\u00fc AI d\u00f6ng\u00fcs\u00fc ger\u00e7ek ciro art\u0131\u015f\u0131, g\u00fc\u00e7l\u00fc talep ve d\u00fcnyan\u0131n en b\u00fcy\u00fck teknoloji \u015firketlerinin yat\u0131r\u0131mlar\u0131yla destekleniyor. Piyasa art\u0131k \u201cAI \u00f6nemli mi?\u201d sorusunu tart\u0131\u015fm\u0131yor. Odak, bu yat\u0131r\u0131m \u00f6l\u00e7e\u011finin mevcut beklentileri kar\u015f\u0131layacak kadar getiri (yat\u0131r\u0131m\u0131n k\u00e2r ve nakit ak\u0131\u015f\u0131na d\u00f6n\u00fc\u015fmesi) \u00fcretip \u00fcretemeyece\u011finde.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu gerilim yar\u0131 iletken (\u00e7ip) sekt\u00f6r\u00fcnde daha net g\u00f6r\u00fcl\u00fcyor. Yat\u0131r\u0131mc\u0131lar AI y\u00fckseli\u015fine kat\u0131l\u0131yor; ancak beklentilerin k\u00e2rlardan daha h\u0131zl\u0131 ko\u015fmas\u0131 ihtimaline kar\u015f\u0131 risk azalt\u0131yor.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">B\u00fcy\u00fcme beklentisinden k\u00e2r\u0131n kan\u0131t\u0131na<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Yar\u0131 iletken de\u011ferlemeleri (hissenin pahal\u0131\/ucuz oldu\u011funa dair \u00f6l\u00e7\u00fcmler) genelde sat\u0131\u015f b\u00fcy\u00fcmesi, k\u00e2r, stok d\u00f6ng\u00fcleri ve arz-talep dengesiyle \u015fekillenir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu etkenler h\u00e2l\u00e2 \u00f6nemli; ancak AI piyasaya daha uzun vadeli bir b\u00fcy\u00fcme varsay\u0131m\u0131 ekledi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yat\u0131r\u0131mc\u0131lar art\u0131k birka\u00e7 olas\u0131 sonucu fiyatl\u0131yor:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Hiperkal\u0131rlar\u0131n (Amazon, Microsoft, Google gibi dev bulut sa\u011flay\u0131c\u0131lar\u0131) AI altyap\u0131 harcamalar\u0131n\u0131n s\u00fcrmesi<\/li>\n\n\n\n<li>\u0130leri seviye \u00e7iplere talebin g\u00fc\u00e7l\u00fc kalmas\u0131<\/li>\n\n\n\n<li>AI uygulamalar\u0131n\u0131n daha geni\u015f kesimlerce kullan\u0131lmas\u0131<\/li>\n\n\n\n<li>Bug\u00fcnk\u00fc yat\u0131r\u0131m dalgas\u0131ndan k\u00e2rl\u0131l\u0131\u011f\u0131n artmas\u0131<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Bu sonu\u00e7lar\u0131n \u00e7o\u011fu hen\u00fcz netle\u015fmedi. Piyasa gelecekteki b\u00fcy\u00fcme i\u00e7in \u00f6deme yap\u0131yor; ancak bu b\u00fcy\u00fcmenin \u00f6l\u00e7\u00fclebilir getiriye d\u00f6n\u00fc\u015fmesi gerekiyor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">AI temas\u0131n\u0131 \u00fc\u00e7 piyasa sinyaliyle okumak<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u00dc\u00e7 yar\u0131 iletken ETF\u2019i (borsada i\u015flem g\u00f6ren fon; bir sepet hisseyi tek \u00fcr\u00fcnle al\u0131p satmay\u0131 sa\u011flar) yat\u0131r\u0131mc\u0131lar\u0131n bu belirsizli\u011fe kar\u015f\u0131 nas\u0131l pozisyon ald\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Her biri AI temas\u0131n\u0131n farkl\u0131 bir y\u00f6n\u00fcn\u00fc yans\u0131t\u0131r: genel kat\u0131l\u0131m, risk i\u015ftah\u0131 ve liderlere yo\u011funla\u015fma.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">ETF<\/td><td class=\"has-text-align-center\" data-align=\"center\">Ne \u00f6l\u00e7er<\/td><td class=\"has-text-align-center\" data-align=\"center\">AI temas\u0131 hakk\u0131nda ne s\u00f6yler<\/td><\/tr><tr><td>SOXX<\/td><td>Nvidia, Broadcom, AMD, Micron ve ekipman \u00fcreticileri gibi AI\u2019dan faydalananlar\u0131 da i\u00e7eren geni\u015f yar\u0131 iletken sepeti<\/td><td>G\u00fcvenin t\u00fcm sekt\u00f6re mi yay\u0131ld\u0131\u011f\u0131 yoksa birka\u00e7 hissede mi topland\u0131\u011f\u0131<\/td><\/tr><tr><td>SOXL<\/td><td>Yar\u0131 iletken hareketlerine 3 kat kald\u0131ra\u00e7l\u0131 (hareketi b\u00fcy\u00fcten bor\u00e7\/\u00e7arpan etkisi) maruziyet<\/td><td>Yat\u0131r\u0131mc\u0131lar\u0131n ne kadar agresif pozisyon ald\u0131\u011f\u0131 ve sekt\u00f6rde b\u00fcy\u00fct\u00fclm\u00fc\u015f risk al\u0131p almad\u0131\u011f\u0131<\/td><\/tr><tr><td>SMH<\/td><td>Nvidia, TSMC, Broadcom, ASML gibi b\u00fcy\u00fck liderlerde yo\u011funla\u015fan sepet<\/td><td>AI y\u00fckseli\u015finin altyap\u0131 harcamas\u0131n\u0131n merkezindeki birka\u00e7 \u015firkete ne kadar ba\u011fl\u0131 oldu\u011fu<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">AI temas\u0131 tek bir bahis de\u011fil. SOXX yayg\u0131nl\u0131\u011f\u0131, SOXL risk i\u015ftah\u0131n\u0131, SMH ise yo\u011funla\u015fmay\u0131 g\u00f6sterir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">SOXX, g\u00fcvenin yay\u0131l\u0131p yay\u0131lmad\u0131\u011f\u0131n\u0131 g\u00f6sterir.<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Daha g\u00fc\u00e7l\u00fc performans, AI iyimserli\u011finin sadece birka\u00e7 b\u00fcy\u00fck kazanana de\u011fil, daha geni\u015f \u00e7ip ekosistemine yay\u0131ld\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fcr\u00fcr. AI liderleri y\u00fckselirken SOXX zay\u0131flarsa, y\u00fckseli\u015fin darald\u0131\u011f\u0131na i\u015faret eder.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">SOXL, yat\u0131r\u0131mc\u0131lar\u0131n ne kadar agresif oldu\u011funu g\u00f6sterir.<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">SOXL, temelden (\u015firketlerin sat\u0131\u015f-k\u00e2r g\u00fcc\u00fc) \u00e7ok i\u015flemin \u015fiddetini yans\u0131t\u0131r.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Kald\u0131ra\u00e7 piyasa hareketini b\u00fcy\u00fctt\u00fc\u011f\u00fc i\u00e7in SOXL\u2019de g\u00fc\u00e7l\u00fc performans, yat\u0131r\u0131mc\u0131n\u0131n daha b\u00fcy\u00fck y\u00f6n bahsi ald\u0131\u011f\u0131n\u0131 g\u00f6sterir. Ayn\u0131 etki, duygu tersine d\u00f6nd\u00fc\u011f\u00fcnde zararlar\u0131 da h\u0131zland\u0131rabilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">SMH, AI temas\u0131n\u0131n nerede yo\u011funla\u015ft\u0131\u011f\u0131n\u0131 g\u00f6sterir.<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">SMH, AI altyap\u0131 harcamalar\u0131na en do\u011frudan ba\u011fl\u0131 \u015firketleri \u00f6ne \u00e7\u0131kar\u0131r.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">G\u00fcc\u00fc, AI liderlerine g\u00fcvenin s\u00fcrd\u00fc\u011f\u00fcn\u00fc g\u00f6sterir; ancak genel teman\u0131n az say\u0131da bask\u0131n \u015firkete ba\u011f\u0131ml\u0131l\u0131\u011f\u0131n\u0131 da ortaya koyar.<\/p>\n\n\n\n<script type=\"module\" src=\"https:\/\/widgets.tradingview-widget.com\/w\/en\/tv-tickers.js\"><\/script>\n\n<tv-tickers symbols=\"NASDAQ:SOXX,AMEX:SOXL,NASDAQ:SMH\" line-chart-type=\"Baseline\" hover-type=\"performance-grid\" show-hover=\"\"><\/tv-tickers><br>\n\n\n\n<p class=\"wp-block-paragraph\">Yat\u0131r\u0131mc\u0131lar, <a href=\"https:\/\/www.vtmarkets.com\/vt-markets-app\/?utm_source=Opinion&amp;utm_content=SemiconductorETF\" target=\"_blank\" rel=\"noopener\" title=\"\">VT Markets uygulamas\u0131<\/a> \u00fczerinden yar\u0131 iletken ETF fiyatlar\u0131n\u0131 CFD\u2019ler (fiyat fark\u0131 s\u00f6zle\u015fmesi; \u00fcr\u00fcn\u00fc sahiplenmeden fiyat hareketine g\u00f6re k\u00e2r\/zarar yaratan t\u00fcrev \u00fcr\u00fcn) ile takip edebilir; piyasa verilerine ve anl\u0131k fiyat izlemeye eri\u015febilir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bellek, AI talebinin kal\u0131c\u0131l\u0131\u011f\u0131n\u0131 test ediyor<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">AI altyap\u0131 d\u00f6ng\u00fcs\u00fc sadece i\u015flemciyle ilgili de\u011fil. Bellek talebi, harcamalar\u0131n tedarik zincirine (\u00fcretimden nihai \u00fcr\u00fcne uzanan a\u011f) yay\u0131l\u0131p yay\u0131lmad\u0131\u011f\u0131n\u0131 da g\u00f6sterir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.vtmarkets.com\/opinion\/sk-hynix-and-the-ai-memory-risk-shift\/?utm_source=Opinion&amp;utm_content=SemiconductorETF\" target=\"_blank\" rel=\"noopener\" title=\"\">SK Hynix, y\u00fcksek bant geni\u015flikli bellek (HBM: AI sistemlerinde \u00e7ok h\u0131zl\u0131 veri ta\u015f\u0131yan bellek t\u00fcr\u00fc) yat\u0131r\u0131m\u0131n\u0131 art\u0131rd\u0131<\/a>. G\u00fc\u00e7l\u00fc AI sunucu talebi DRAM fiyatlar\u0131n\u0131 da destekledi. TrendForce, standart DRAM s\u00f6zle\u015fme fiyatlar\u0131n\u0131n <a href=\"https:\/\/www.trendforce.com\/presscenter\/news\/20260331-12995.html\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">2026\u2019n\u0131n ikinci \u00e7eyre\u011finde \u00e7eyreklik bazda %58\u201363 artabilece\u011fini<\/a> \u00f6ng\u00f6rd\u00fc. NAND (veri depolama belle\u011fi) s\u00f6zle\u015fme fiyatlar\u0131n\u0131n da, kurumsal depolama talebi AI altyap\u0131 geni\u015flemesinden yararland\u0131k\u00e7a %70\u201375 artmas\u0131 bekleniyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bellek kritik bir testtir; \u00e7\u00fcnk\u00fc tarihsel olarak \u00e7ip sekt\u00f6r\u00fcn\u00fcn en dalgal\u0131 alanlar\u0131ndan biridir. G\u00fc\u00e7l\u00fc talep kapasite art\u0131\u015f\u0131n\u0131 tetikler; bu da zamanla arz fazlas\u0131 olu\u015fturup fiyatlar\u0131 bask\u0131layabilir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu d\u00f6ng\u00fc, AI\u2019nin bellek talebinde kal\u0131c\u0131 bir art\u0131\u015f yarat\u0131p yaratmayaca\u011f\u0131na ya da sekt\u00f6r\u00fcn klasik \u201ch\u0131zl\u0131 y\u00fckseli\u015f-sert d\u00fc\u015f\u00fc\u015f\u201d d\u00fczenine d\u00f6n\u00fcp d\u00f6nmeyece\u011fine ba\u011fl\u0131.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Yat\u0131r\u0131mc\u0131lar AI riskini dengeliyor<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">AI temas\u0131 <a href=\"https:\/\/www.marketwatch.com\/story\/the-chip-sectors-recent-calm-is-masking-a-turbulent-outlook-in-the-options-market-2ffc098a\">al\u0131\u015f\u0131lmad\u0131k bir tablo<\/a> sergiliyor: g\u00fc\u00e7l\u00fc fiyat performans\u0131 ile y\u00fcksek belirsizlik ayn\u0131 anda g\u00f6r\u00fcl\u00fcyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.cboe.com\/us\/indices\/dashboard\/vxsmh\/\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">Cboe Semiconductor ETF Volatility Index<\/a> (SMH i\u00e7in beklenen oynakl\u0131\u011f\u0131 \u00f6l\u00e7en endeks; \u201coynakl\u0131k\u201d fiyat\u0131n h\u0131zl\u0131 ve sert hareket etme e\u011filimi), son zirvesinde 64,57\u2019ye \u00e7\u0131kt\u0131 ve 61,21 civar\u0131nda kapand\u0131. Ayn\u0131 d\u00f6nemde daha geni\u015f piyasan\u0131n VIX endeksi (ABD hisse piyasas\u0131 i\u00e7in beklenen oynakl\u0131k g\u00f6stergesi) yakla\u015f\u0131k 17,05\u2019ti. Yar\u0131 iletken yat\u0131r\u0131mc\u0131lar\u0131, genel hisse piyasas\u0131na g\u00f6re \u00e7ok daha b\u00fcy\u00fck fiyat hareketleri bekliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Normalde fiyatlar d\u00fc\u015ferken oynakl\u0131k artar. Son d\u00f6nemde fiyatlar g\u00fc\u00e7l\u00fc seyrederken de oynakl\u0131k y\u00fcksek kald\u0131. Bu, yat\u0131r\u0131mc\u0131lar\u0131n AI temas\u0131ndan \u00e7\u0131kmad\u0131\u011f\u0131n\u0131; ancak iki y\u00f6nde de sert hareket ihtimaline kar\u015f\u0131 risk y\u00f6netti\u011fini g\u00f6steriyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Opsiyon (belirli fiyattan alma\/satma hakk\u0131 veren s\u00f6zle\u015fme) i\u015flemleri ve az say\u0131da hissede yo\u011fun pozisyon k\u0131sa vadeli dalgalanmay\u0131 art\u0131rabilir; ancak ana etkenler ayn\u0131:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>AI altyap\u0131 harcamalar\u0131<\/li>\n\n\n\n<li>Yar\u0131 iletken talebi<\/li>\n\n\n\n<li>K\u00e2r art\u0131\u015f\u0131<\/li>\n\n\n\n<li>Faiz oranlar\u0131<\/li>\n\n\n\n<li>De\u011ferlemeler<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Pozisyonlanma (piyasadaki toplam bahis y\u00f6n\u00fc) hareketi h\u0131zland\u0131rabilir; ancak \u015firketlerin ger\u00e7ek performans\u0131n\u0131n yerini tutmaz.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">AI\u2019nin bir sonraki a\u015famas\u0131n\u0131 belirleyecek kan\u0131tlar<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">AI d\u00f6ng\u00fcs\u00fcn\u00fcn bir sonraki a\u015famas\u0131, \u015firketlerin ne kadar harcad\u0131\u011f\u0131ndan \u00e7ok bu harcaman\u0131n \u00f6l\u00e7\u00fclebilir getiri \u00fcretip \u00fcretmedi\u011fine ba\u011fl\u0131 olacak.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Hiperkal\u0131r AI altyap\u0131 harcamalar\u0131<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Bulut \u015firketleri, AI altyap\u0131 talebinin temel dayana\u011f\u0131 olmaya devam ediyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Birden fazla \u015firkette yat\u0131r\u0131m art\u0131\u015f\u0131n\u0131n s\u00fcrmesi mevcut d\u00f6ng\u00fcy\u00fc destekler. Altyap\u0131 planlar\u0131nda yava\u015flama ise harcamalar\u0131n beklenen getirinin \u00f6n\u00fcne ge\u00e7ti\u011fini g\u00f6sterebilir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Alphabet, 2026 sermaye harcamas\u0131 (capex: fabrika, veri merkezi gibi uzun vadeli yat\u0131r\u0131mlar) beklentisini <a href=\"https:\/\/www.wsj.com\/tech\/ai\/alphabet-googl-q2-earnings-report-2026-stock-f6bdd223\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">y\u00fckseltti<\/a> ve <a href=\"https:\/\/www.ft.com\/content\/b02f972c-c764-4006-9377-42563d9d5530\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">yakla\u015f\u0131k 195\u2013205 milyar dolara<\/a> \u00e7\u0131kard\u0131 (\u00f6nceki aral\u0131k 180\u2013190 milyar dolard\u0131).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Son tahminler, b\u00fcy\u00fck bulut \u015firketlerinin toplam AI altyap\u0131 harcama hedeflerinin <a href=\"https:\/\/www.cnbc.com\/2026\/02\/06\/google-microsoft-meta-amazon-ai-cash.html\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">2026\u2019da 700 milyar dolar\u0131 a\u015fabilece\u011fini<\/a> de g\u00f6steriyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Piyasa, bu yat\u0131r\u0131m\u0131n ciro art\u0131\u015f\u0131na d\u00f6n\u00fc\u015f\u00fcp d\u00f6n\u00fc\u015fmedi\u011fini izleyecek.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">AI \u00e7ip talebi ve arz e\u011filimleri<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">AI \u00e7ip talebi g\u00fc\u00e7l\u00fc; ancak b\u00fcy\u00fcmenin niteli\u011fi \u00f6nemli. Sa\u011fl\u0131kl\u0131 bir d\u00f6ng\u00fcde talep daha geni\u015f bir m\u00fc\u015fteri taban\u0131na yay\u0131l\u0131r; sipari\u015fler devam eder ve fiyatlar g\u00fc\u00e7l\u00fc kal\u0131r.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Talebin birka\u00e7 m\u00fc\u015fteride toplanmas\u0131, sipari\u015flerin yava\u015flamas\u0131 veya stoklar\u0131n artmas\u0131 arz\u0131n yeti\u015fti\u011fine i\u015faret eder.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Kurumsal AI kullan\u0131m\u0131n\u0131n artmas\u0131 ve gelir yaratma<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Altyap\u0131 harcamas\u0131, \u015firketlerin AI ara\u00e7lar\u0131n\u0131 somut faydaya \u00e7evirmesine ba\u011fl\u0131. Ticari kullan\u0131m\u0131n yay\u0131lmas\u0131 yat\u0131r\u0131m\u0131n s\u00fcrmesi i\u00e7in g\u00fc\u00e7l\u00fc bir gerek\u00e7e yarat\u0131r.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Uzun s\u00fcre deneme yap\u0131l\u0131p geni\u015f \u00f6l\u00e7ekli kullan\u0131m\u0131n gecikmesi, gelire d\u00f6n\u00fc\u015f\u00fcm\u00fcn beklenenden yava\u015f oldu\u011funa dair endi\u015feleri art\u0131r\u0131r.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u00c7ip \u015firketlerinde k\u00e2r marj\u0131 ve yat\u0131r\u0131m\u0131n geri d\u00f6n\u00fc\u015f\u00fc<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">AI d\u00f6ng\u00fcs\u00fcn\u00fcn bir sonraki a\u015famas\u0131n\u0131 tek ba\u015f\u0131na yat\u0131r\u0131m de\u011fil, <a href=\"https:\/\/www.vtmarkets.com\/financial-events\/earnings-season\/?utm_source=Opinion&amp;utm_content=SemiconductorETF\">bilan\u00e7o k\u00e2rlar\u0131<\/a> belirleyecek. \u015eirketler harcama artsa bile marj\u0131 (sat\u0131\u015ftan kalan k\u00e2r oran\u0131) korur ya da y\u00fckseltirse, AI talebinin finansal getiriye d\u00f6n\u00fc\u015ft\u00fc\u011f\u00fc anla\u015f\u0131l\u0131r.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Marj bask\u0131s\u0131 ise altyap\u0131 maliyetlerinin, \u00fcretti\u011fi gelirden daha h\u0131zl\u0131 artt\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fcr\u00fcr.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>AI g\u00f6r\u00fcn\u00fcm\u00fc<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Y\u00fckseli\u015fe kat\u0131l\u0131rken a\u015fa\u011f\u0131 y\u00f6nl\u00fc riske kar\u015f\u0131 korunmak (hedge: olas\u0131 zarar\u0131 s\u0131n\u0131rlamak i\u00e7in ters y\u00f6nde i\u015flem\/strateji kurmak), gelecekteki getirisinin net olmad\u0131\u011f\u0131 piyasada daha temkinli bir yakla\u015f\u0131m\u0131 g\u00f6steriyor. Dot-com\u2019un temel hatas\u0131, tek y\u00f6nl\u00fc inan\u00e7t\u0131. Neredeyse kimse kendi anlat\u0131s\u0131na kar\u015f\u0131 korunmad\u0131; hik\u00e2ye bozulunca d\u00fc\u015f\u00fc\u015f\u00fc kar\u015f\u0131layacak bir denge kalmad\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu kez piyasa tersini yap\u0131yor ve as\u0131l fark bu olabilir. T\u00fcrev piyasalarda (dayanak varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmeler; \u00f6rn. vadeli i\u015flem, opsiyon, CFD) iki y\u00f6nde de pozisyon ta\u015f\u0131mak, g\u00f6r\u00fc\u015f belirtmek ya da riski y\u00f6netmek i\u00e7in s\u0131k kullan\u0131lan bir y\u00f6ntemdir.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary>Tap for TL;DR<\/summary>\n<p class=\"wp-block-paragraph\"><br><strong>AI y\u00fckseli\u015fi h\u00e2l\u00e2 temellerle destekleniyor mu?<\/strong> <br>Evet. AI talebi, \u00e7ip yat\u0131r\u0131mlar\u0131 ve hiperkal\u0131r harcamalar\u0131 g\u00fc\u00e7l\u00fc; ancak yat\u0131r\u0131mc\u0131lar gelecekteki k\u00e2rlar\u0131n bug\u00fcnk\u00fc beklentileri kar\u015f\u0131lay\u0131p kar\u015f\u0131lamayaca\u011f\u0131n\u0131 izliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Piyasa g\u00fc\u00e7l\u00fc giderken yat\u0131r\u0131mc\u0131lar neden korunuyor?<\/strong> <br>Korunma; de\u011ferleme, birka\u00e7 hissede yo\u011funla\u015fma riski ve AI harcamalar\u0131n\u0131n ne h\u0131zla k\u00e2ra d\u00f6n\u00fc\u015fece\u011fine dair belirsizli\u011fe kar\u015f\u0131 temkini yans\u0131t\u0131r.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>SOXX, SOXL ve SMH AI temas\u0131nda ne anlat\u0131r?<\/strong> <br>SOXX iyimserli\u011fin sekt\u00f6re yay\u0131l\u0131p yay\u0131lmad\u0131\u011f\u0131n\u0131, SOXL risk i\u015ftah\u0131n\u0131, SMH ise liderlere ba\u011f\u0131ml\u0131l\u0131\u011f\u0131 g\u00f6sterir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>AI altyap\u0131 harcamalar\u0131 kal\u0131c\u0131 bir b\u00fcy\u00fcme d\u00f6ng\u00fcs\u00fc yarat\u0131yor mu?<\/strong> <br>Sonraki a\u015fama; \u00e7ip talebi, bellek b\u00fcy\u00fcmesi ve kurumsal kullan\u0131m\u0131n yat\u0131r\u0131m\u0131 \u00f6l\u00e7\u00fclebilir k\u00e2ra \u00e7evirip \u00e7eviremeyece\u011fine ba\u011fl\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>AI \u00e7ip hisselerinde bir sonraki hareketi ne belirler?<\/strong> <br>Hiperkal\u0131r harcamalar\u0131, AI \u00e7ip talebi, kullan\u0131m\u0131n yay\u0131lmas\u0131 ve \u00e7ip \u015firketlerinin marjlar\u0131 d\u00f6ng\u00fcn\u00fcn uzun vadeli getiri \u00fcretip \u00fcretemeyece\u011fini g\u00f6sterecek.<\/p>\n<\/details>\n\n\n\n\n<p class=\"wp-block-paragraph\"><b>Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in <a href=\"https:\/\/www.vtmarkets.com\/tr-mena\/trade-now\/\">buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"<p>AI r\u00fczg\u00e2r\u0131 \u00e7iplerde dot-com g\u00f6lgesini yeniden \u00e7a\u011f\u0131r\u0131yor: Hiperkal\u0131r capex 700 milyar $\u2019a ko\u015farken piyasa art\u0131k \u201cb\u00fcy\u00fcme\u201d de\u011fil, k\u00e2r ve nakit ak\u0131\u015f\u0131 kan\u0131t\u0131 ar\u0131yor; ETF\u2019ler sinyal veriyor.<\/p>\n","protected":false},"author":87,"featured_media":51608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[48,49],"tags":[],"class_list":["post-51609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-opinion"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/51609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=51609"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/51609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media\/51608"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=51609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=51609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=51609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}