The MANGOS Ecosystem

A thematic initiation on the AI infrastructure buildout across the MANGOS complex: Meta, Anthropic, NVIDIA, Google, OpenAI, and SpaceX.

We frame the capital cycle around hyperscaler capex, compute supply constraints, and the monetization path from model training toward inference at scale.

Preferred exposure is expressed through NVIDIA, Google, and Meta, with an Overweight stance on the theme overall.