After SpaceX (SPCX) completed its initial public offering last week, the meme, MANGOS, circulated on Reddit (RDDT).
MANGOS is an acronym for Meta Platforms (META), Anthropic, NVIDIA (NVDA), Google (GOOG), OpenAI, and SpaceX.
Wall Street’s need for a catchy meme leaves several firms out of the Magnificent 7. The M7 members are Microsoft (MSFT), Amazon (AMZN), Nvidia, Meta, Apple (AAPL), Alphabet (GOOG), and Tesla (TSLA).
If the Mangos meme catches on, the company inclusions are unusual. Meta continued to struggle in its ambition to build its AI. The Information reported that Meta wanted its staff to limit the use of AI tokens. The exploding use of chatbots increased its AI server costs.
Anthropic and OpenAI are not yet publicly listed firms. Once they start trading, MANGOS might start trending.
Companies Left Out
Leaving out Microsoft would make sense. Since it owns a 27% stake in OpenAI, its inclusion would double-count OpenAI. Excluding Amazon is unusual. The e-commerce, media, and AWS giant has a history of bouncing back steadily after a sell-off.
The list also leaves out the biggest beneficiaries of the AI boom. Taiwan Semiconductor (TSM) manufacturers NVIDIA, AMD, and Intel (INTC) chips that power AI servers.
Hyperscaler firms like Broadcom (AVGO) are growing, thanks to AI spending growth.
Your Takeaway
The new list is more narrow and scope, and MANGOS might not have the same meme catchiness as the Magnificent 7.
