A new big tech acronym, MANGOS, spreads as AI IPOs near

In short: As several major AI and space companies move closer to possible IPOs, a new shorthand name, MANGOS, is going viral online.

What's going on

For years, people in finance and tech used the acronym FAANG to refer to five powerful public companies: Facebook (now Meta), Amazon, Apple, Netflix, and Google (now Alphabet). It was a quick way to talk about the biggest names that seemed to set the pace for the industry.

Now some investors and tech watchers are looking at a different set of companies, especially ones tied to artificial intelligence and space. TechCrunch reports that SpaceX, Anthropic, and OpenAI are all eyeing public debuts. An IPO, or initial public offering, is when a private company starts selling shares on the stock market (like opening a store to the general public after selling only to a few insiders).

In that context, a new acronym is spreading on X: MANGOS. It stands for Meta, Anthropic, Nvidia, Google, OpenAI, and SpaceX. The name was proposed by two developers, @krishdotdev and @lilscoot, and it has been circulating widely.

What to watch

FAANG is not disappearing, since Amazon and Netflix still have major businesses. But the conversation is shifting toward companies that build the tools and computer chips behind today’s AI boom. If the IPO plans for SpaceX, Anthropic, and OpenAI move forward, expect more talk about whether these firms become the next “must watch” group for the stock market.

Source: TechCrunch AI