50 Cent was pleasantly surprised with Diddy dodging the feds’ most serious charges and came up with a new nickname for his arch-rival — the “Gay John Gotti“!!!

The backhanded compliment has its merits in Teflon … Diddy was found NOT GUILTY on 3 of 5 counts … acquitted of racketeering and sex trafficking of Cassie and Jane following their tearful testimonies — all cleared off the table!!! He’s guilty of 2 counts of transportation for prostitution.

50 trolled Diddy throughout the trial, even adopting the evil genius of A.I. images … but had to tip his hat and acknowledged his OG title as a “Bad Boy” within the music industry.

Diddy still faces sentencing on the two Mann Act counts … and he could very well be saved with a Donald Trump pardon … something 50 is also watching closely.

Their rivalry has ranged from icy to hot for years … and we’ll know the full spill once 50’s doc on Diddy is released.