Tech's power structure shifting from FAANG to MANGOS as SpaceX, Anthropic, and OpenAI prepare IPOs

SpaceX, Anthropic, and OpenAI are each preparing IPOs expected to take place soon, with SpaceX's scheduled for Friday. If completed as planned, these companies will replace the traditional FAANG group (Facebook/Meta, Amazon, Apple, Netflix, Google/Alphabet) with a new set of tech leaders called MANGOS: Meta, Anthropic, Nvidia, Google, OpenAI, SpaceX.

The acronym MANGOS was proposed by developers @krishdotdev and @lilscoot on X and has gone viral. The shift reflects a move away from streaming and e-commerce dominance toward AI and agentic companies (autonomous systems that make decisions and take actions).

FAANG remains partially intact—Amazon and Netflix stay powerful—but their e-commerce and streaming businesses are considered less groundbreaking than the AI-focused companies the tech industry is now elevating.