The IPO market is back — and this time, a fresh crop of tech giants is leading the charge. According to TechCrunch, the era of FAANG dominance is giving way to a new acronym: MANGOS, standing for Meta (or Microsoft, depending on who you ask), Anthropic, Nvidia, Google, OpenAI, and SpaceX.
Half of that group is now heading to public markets within the same window, according to TechCrunch, marking one of the most closely watched IPO seasons in recent memory.
SpaceX is among the furthest along. TechCrunch reports the company has filed an S-1 registration document, the formal paperwork required before a public offering, and coverage includes details on pre-IPO deals and analysis of who stands to gain — and potentially lose — from the listing.
AI companies Anthropic and OpenAI are also part of the wave. Both firms have become central to the global conversation around artificial intelligence, and their potential listings would give everyday investors their first direct exposure to the companies building large language models at the frontier.
The convergence of a rocket company, two rival AI labs, and the broader MANGOS cohort going public in overlapping timeframes is historically unusual — and signals a profound reshaping of which companies Wall Street views as the defining tech platforms of the next decade.