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MANGO Is The New Hot Acronym On Wall Street
Let your MANGO flag fly // Illustration by Kate Walker
Investors can’t get enough of MANGO. And no, not the fruit — the handful of companies soaking up all the attention, investment, and consumer interest in today’s AI-driven economy.
Why It Hits: Wall Street loves a buzzy nickname for the giants competing for consumer attention. Before the pandemic, it was FAANG. A couple of years ago, all eyes were on the Magnificent 7. Now, the rise of MANGO marks the first time in the modern market that all the top companies are united by a single pursuit — AI dominance.
Behind The Stocks: So, what does MANGO mean?
It’s Microsoft, Anthropic, Nvidia, Google, and OpenAI… although some people are switching out Microsoft and Anthropic for Meta and Apple (it’s not a perfect science).
Either way, it’s striking when OpenAI and Anthropic were barely a blip on anyone’s radar outside of Silicon Valley just a few years ago.
Each of these companies is deploying hundreds of billions of dollars in AI talent, infrastructure, and research… even though the timeline for profitability around AI is still a big question mark.
The Future: Unsurprisingly, the MANGO cohort includes the companies most coveted by new computer science and engineering grads. The problem? Hiring across Silicon Valley — especially at the top players — has plummeted. VC firm SignalFire found that the 15 largest tech companies are hiring 50% fewer new grads than in 2019.
Why? Because of AI, of course. The better the tech gets, the less need there is for new coders — certainly a novel narrative for company growth.
Prediction: In the near future, MANGO may represent the top companies that have the fewest employees.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.