Recently, I've been thinking about one question: the future belongs to AI, so why are AI-related stocks still experiencing sharp drops even during a rally?

Probably because the market is adjusting the gains to align with its quarterly revenue or the expected revenue over the next few years.
It’s like riding a horse on the prairie—although the horse is galloping, you’ve been constantly yanking the reins back and forth to control its pace, and when it’s tired, you need to give it a mouthful of grass.