If you're still using the term "FAANG" to talk about tech giants, congratulations—you're already outdated.
In 2013, CNBC's Jim Cramer coined the acronym "FANG"—Facebook, Amazon, Netflix, Google. In 2017, Apple joined, making it FAANG.
This combination dominated Wall Street for a full decade and became the hallmark of the mobile internet golden age.
But now, times have changed.
Recently, engineer @krishdotdev posted on X: “It's not FAANG anymore. It's MANGO.” The post quickly garnered 4.1 million views, sparking widespread discussion about the new era’s “giants.”
So the question arises: Who is MANGO?
Interestingly, MANGO had two versions, but both pointed to the same trend.
Version 1 (2025 popular): Microsoft, Anthropic, Nvidia, Google, OpenAI. This version gained widespread circulation after being reported by Axios in October 2025.
Version 2 (to take off in 2026): Meta, Anthropic, Nvidia, Google, OpenAI—add one more S for SpaceX, making it MANGOS.
Whether it's MANGO or MANGOS, the core lineup is highly overlapping: NVIDIA, Google, and OpenAI are permanent members. The difference lies only in minor adjustments between Microsoft/Apple and Meta/Anthropic, and SpaceX’s later addition turning the singular into the plural.
But what really matters is who got kicked out.
Apple? Out. Amazon? Out. Netflix? Not even in the conversation anymore. Even Microsoft was removed in the MANGOS version.
A new era has begun.
Attention economy to intelligent economy
Why these companies? Answer: AI.
What was the business model of the FAANG era? Attention. Facebook sold ads, Amazon sold products, Netflix sold subscriptions, and Google sold search traffic—all essentially converting human attention into revenue.
The core assets of the MANGO/MANGOS era are intelligence, computing power, and infrastructure. NVIDIA’s GPUs run the world’s most complex AI models; OpenAI’s ChatGPT ignited the revolution in generative AI; Google DeepMind and Anthropic are racing to catch up on foundational models; Meta has open-sourced the Llama series of large models. SpaceX is building the future “space AI infrastructure” with rockets and satellites.
The former is changing how we consume, and the latter is changing how we create.
As venture capitalist Kristina Shen said on CNBC: "Power has shifted from FAANG and the Mag 7 to AI leaders. Based on the products they’ve launched, the consumer love they’ve won, and the types of acquisitions they’re making, they are dominating market sentiment."
It's not just a game for Wall Street
This change is more than just a ticker symbol replacement.
For job seekers, the career ceiling for North American graduates used to be landing a job at FAANG; now, MANGO/MANGOS has become the new holy grail.
The SignalFire 2025 Tech Talent Report shows that the proportion of new graduates hired by major tech companies has dropped to 7%, with new graduate hiring numbers down 25% from 2023 and more than 50% from pre-pandemic 2019.
The compensation gap has also become more pronounced. According to publicly available salary data from Levels.fyi, entry-level L3 software engineers at Google have a total compensation of approximately $210,000, including base salary, stock, and bonuses; Meta E3 software engineers also earn over $180,000 in total compensation.
The total compensation range for OpenAI software engineers starts at approximately $249,000, with a median of about $590,000. Anthropic’s public samples are skewed toward senior roles, but the total compensation range for software engineers already shows figures between $560,000 and over $780,000.
This reveals a harsh reality: the AI era isn’t withholding money from young people—it’s concentrating funds increasingly among a select few who can immediately generate leverage. In the past, big companies were willing to train newcomers; today, AI companies favor those who can independently build systems, fine-tune models, develop products, and drive efficiency right away.
For investors, the signal is clearer: money has already moved.
In June 2026, the Corgi ETF Trust I officially filed registration documents with the SEC for the “Corgi MANGOS ETF”—the world’s first exchange-traded fund directly named after MANGOS. In other words, Wall Street has begun packaging the MANGOS narrative as a tradable product, putting it on the shelf for sale.
With SpaceX now public and OpenAI and Anthropic waiting in line for their IPOs, analysts are beginning to seriously ask: Can the Mag 7 still represent market leadership?
The answer may be no.
According to data from the London Stock Exchange Group (LSEG), if the Mag 7 is combined with SpaceX, OpenAI, and Anthropic, these 10 companies now account for over 40% of the S&P 500—this figure alone shows that capital is already voting with its feet, rendering old labels insufficient.
For ordinary investors, this feels both like a golden opportunity and a warning. Money is flowing from traditional internet narratives into AI chips, foundational models, cloud computing, energy infrastructure, and space facilities. The opportunities are enormous, but so too could be the bubbles. The harshest truth of technological revolutions has always been this: they create wealth myths while simultaneously generating valuation illusions.
For society, MANGOS has a deeper impact. It may increase productivity or widen income inequality; it may empower small teams with capabilities once reserved for large corporations, or concentrate power further in the hands of a few companies possessing models, chips, and capital. The more powerful the technology, the more society needs to reexamine education, labor, regulation, and fairness.
This is also the mindset we ordinary people most need to adjust when facing AI: neither blindly worship it nor panic. It is not an omnipotent god; rather, it is more like a new industrial revolution, reshaping old career paths, investment logic, and social structures.
In the FAANG era, we gave up our data; in the MANGOS era, we must reclaim control over our work, the ability to judge capital, and our place in the age of machines.
Author: Bootly
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