Netflix was out, Microsoft, Nvidia and Tesla are in.
When FAANG was first coined, it was 2013. Netflix provided significant return in that mobile Internet and cloud era.
ChatGPT was out in Nov 2022 and swept the world in 2023.
Netflix doesn’t touch hardware and AI.
Nvidia was neglected as it’s not close to consumers except for the gaming PC. Later people may know it as a crypto mining machine, but not the backbone of an entire era.
Tesla was neglected as people can easily live without an electric vehicle. Now it seems that autonomous driving will eventually serve many people and be deployed in more use cases in the form of robots.
Microsoft was neglected because it was mature and old? Not sexy.