SpaceX's Public Debut Marks The End Of Big Tech's 'Magnificent 7' Era

BreakingBusinessSpaceX's Public Debut Marks The End Of Big Tech's 'Magnificent 7' EraByAlicia Park,Reporter. I cover markets and tech.Follow AuthorJun 16, 2026, 01:36pm EDTToplineSpaceX's blockbuster Nasdaq debut has vaulted it past three Magnificent 7 members by market cap in its second full day of trading, fueling a Wall Street scramble to retire the acronym in favor of new labels, including the social media viral "MANGOS" and Vanda Research's "Fab 10"—neither of which most investors can fully buy, since marquee members OpenAI and Anthropic remain private.NEW YORK, NEW YORK - JUNE 12: The SpaceX company logo is displayed outside of the Nasdaq Marketsite at the launch of the company's initial public offering (IPO) on June 12, 2026 in New York City. (Photo by Spencer Platt/Getty Images)Getty ImagesKey FactsElon Musk's rocket company began trading on the Nasdaq under ticker SPCX on June 12 and rose 12% on its second full trading day Tuesday, reaching a $2.85 trillion market cap and surpassing Mag 7 companies Tesla, Meta and Amazon. Research firm Vanda coined the acronym FAB 10 (Frontier AI & Big Tech 10), which includes the original Mag 7 (Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta, Tesla) plus SpaceX, OpenAI and Anthropic.The acronym MANGOS (Meta, Anthropic, Nvidia, Google, OpenAI, SpaceX) went viral this month after a developer posted a graphic on X that drew millions of views. MANGOS swaps consumer-internet names for the AI stack, dropping Apple, Microsoft, Amazon and Tesla entirely.ETF issuer Corgi Funds filed a prospectus this week for an ETF called MANGOS, prompting Morningstar's Ben Johnson to quip on X that the ink had barely dried before a fund appeared as two members Anthropic and OpenAI remain private. Both private AI makers filed paperwork confidentially in June to go public this year at valuations potentially north of $1 trillion. SpaceX is up 35% since its debut, while the Roundh...