Bye-Bye FAANG, Hello MANGOS: Will SpaceX, OpenAI, Anthropic IPOs Herald A New Wall Street Order?

• MANGOS gained fresh traction after full-stack AI engineer Krishna B. posted a graphic with the companies’ logos on X on Monday, generating buzz ahead of SpaceX’s public listing this week.
• The term was originally coined by BofA Securities analyst Vivek Arya to describe a group of leading semiconductor companies. 
• Others are also proposing an alternative TANGOS that includes Tesla.

Wall Street loves its acronyms. First came FAANG, to denote America’s favorite tech companies, and then it expanded to ‘Magnificent Seven’ to include mega-cap stocks.  

Now, with the buzz of artificial intelligence and historic public listings such as SpaceX and OpenAI, there’s a new term that’s taking over markets: MANGOS.

From FAANG To MANGOS

MANGOS has begun gaining traction on social media as traders speculate about which companies could dominate the next market cycle. Unlike FAANG, which was largely centered on consumer internet businesses, MANGOS reflects the rise of AI and advanced computing technologies.

The original FAANG group — Meta Platforms (META), formerly known as Facebook, Amazon.com (AMZN), Apple Inc. (AAPL), Netflix Inc. (NFLX) and Alphabet Inc. (GOOG), which was earlier known as Google — became synonymous with market leadership. All five companies are part of the tech-heavy Nasdaq 100 index, which accounts for about 35% of the index, while they make up about 19% of the broader S&P 500 Index. The acronym was first coined by market technician Bob Lang and later popularized by CNBC's Jim Cramer in 2013.

A decade later, Bank of America strategist Michael Hartnett introduced the "Magnificent Seven" term to describe the top seven technology stocks driving much of the S&P 500's gains.

Today, however, investors increasingly see AI as the defining investment theme. MANGOS typically includes Meta, Anthropic, AI-darling Nvidia Corp. (NVDA), Google, OpenAI and SpaceX, combining public-market AI leaders with some of the world's most valuable private technology companies that are slated to go public soon.

MANGOS On Social Media

MANGOS gained fresh attention this week after full-stack AI engineer Krishna B. posted a graphic with the companies’ logos on X on Monday, generating more than 20,000 likes and sparking debate.

Others quickly embraced the comparison. "FAANG = old tech kings," another user wrote on X, adding that the new acronym represented AI-era leaders.

The term was originally coined by BofA Securities analyst Vivek Arya to describe a group of leading semiconductor companies: Marvell Technology (MRVL), Advanced Micro Devices (AMD), Analog Devices (ADI), Broadcom (AVGO), Nvidia, GlobalFoundries (GFS) and Onsemi (ON).

More recently, investors and venture capitalists have reimagined the acronym. In 2025, analyst Stirling Larkin used MANGOS to refer to Microsoft (MSFT), Anthropic, Nvidia, Google and OpenAI. Venture investors Kristina Shen of Chemistry and Jack Altman of Alt Capital later discussed the concept on CNBC. Retail investors have since expanded the term even further to include SpaceX.

Some others are also proposing an alternative TANGOS to include Tesla Inc. (TSLA).

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