It is a short hand for the major/prestigious tech companies.
So it would be Google, Microsoft, Facebook, Amazon, Apple, and maybe Netflix depending on who you ask.
And yes, I know that is more than 5 companies. It is a shorthand for "those prestigious, large tech companies that new grads apply to, and hire lots of people, and have large market caps".
If I talk to any new grad who is applying to companies these day, they will know what I mean when I say "big 5 tech companies".
This is a very common term in the interview/tech market and discussions.