The “Magnificent Seven” group of Big Tech stocks used to be cool. But as with any good investing acronym, Magnificent Seven now seems long in the tooth and ripe for a shot of innovation, not unlike the companies that drive the group.
It could be time for investors to embrace the FAB 10.
“SpaceX now belongs in the same conversation as the world’s most important companies,” Vanda Research said. “If the last few years were dominated by the Magnificent 7, SpaceX’s IPO was perhaps the clearest sign yet that investors are starting to focus on what we call the FAB 10 (Frontier AI & Big Tech 10). This is the Mag 7 plus SpaceX, as well as the future listings of OpenAI and Anthropic. Together, these companies represent the future of AI & tech that will define the next decade.”
SpaceX (SPCX) has quickly made a case for investors to embrace the FAB 10 and begin to forget the Mag 7, which includes Alphabet (GOOGL), Amazon (AMZN), Apple (AAPL), Meta (META), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA).
Shares of Elon Musk’s rocket company are up 5% in premarket trading on Tuesday, indicating an open to above $200 for the first time. At this level, SpaceX would open with a more than $2.9 trillion market cap.
A $2.9 trillion market cap for SpaceX would put it roughly in line with tech heavyweight and nicely profitable Microsoft, with a $2.95 trillion market cap, per Yahoo Finance AlphaSpace.
What’s more, the combined market cap of Elon Musk’s SpaceX ($2.9 trillion) and Tesla ($1.3 trillion) would be nearing the level of Apple (which is also nicely profitable, unlike SpaceX).
SpaceX’s strong start has set the stage for the public debuts of OpenAI (OPAI.PVT) and Anthropic (ANTH.PVT). Anthropic and OpenAI officially submitted confidential IPO filings to the SEC on June 1 and June 8, 2026, respectively.
Backed by explosive growth in enterprise software revenue, Anthropic heads toward its public listing carrying a massive $965 billion private valuation. Its chief rival, OpenAI, closely trails with an $852 billion valuation.
Both are expected to come to public markets this fall.
Brian Sozzi is Yahoo Finance’s Executive Editor and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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