US Stock Market: ETF issuers rush to capitalise on AI-focused ‘MANGOS’ theme after SpaceX IPO

The rapid rise of a new artificial intelligence-focused stock market theme is already finding its way into exchange-traded funds (ETFs), with two asset managers seeking regulatory approval to launch products tied to the newly coined “MANGOS” acronym, according to filings reviewed by Reuters.

The move comes just days after SpaceX completed a record $75 billion initial public offering, sparking fresh enthusiasm among investors for AI-linked companies and creating momentum behind a new basket of stocks that some market participants see as a successor to the widely followed Magnificent Seven trade.

Yorkville America, which manages the Truth Social ETF franchise, and ETF industry newcomer Corgi Securities filed applications with the U.S. Securities and Exchange Commission on Monday to launch ETFs linked to the MANGOS theme, Reuters reported.

The acronym, which gained traction on social media platforms including X ahead of the SpaceX listing, refers to a group of leading AI-focused companies comprising Meta Platforms, Nvidia, Alphabet-owned Google, SpaceX, Anthropic and OpenAI. The grouping includes both publicly traded and private companies that are viewed as major beneficiaries of the accelerating adoption of artificial intelligence.

According to Reuters, ETF analysts view the filings as the latest example of “concept investing,” where fund providers move quickly to package popular market narratives into investment products.

Yorkville’s proposed offerings include the Mango Plus ETF and an income-generating variant. Regulatory filings show the funds would invest in a mix of core MANGOS companies and an additional set of AI-related firms that the asset manager has labelled the “Parabolic 7.” These companies include memory-chip maker Micron and storage solutions provider SanDisk, among others expected to benefit from growing AI demand.

Corgi Securities, meanwhile, plans to focus exclusively on the six core MANGOS companies, according to its filing. The firm declined to discuss details of the proposed fund while the regulatory review process is ongoing.Reuters reported that both ETF products could potentially begin trading by the end of August, subject to regulatory timelines and approval requirements.

The filings underscore how quickly ETF providers are responding to shifting investor sentiment, particularly as AI-related companies continue to attract significant market attention and capital following SpaceX’s blockbuster public debut.