Short for acknowledged. When a person says something that doesn't require a response, but the person wants to let them know they recieved the message. Similar to okay, but when using okay just won't do.
In the TCP protocol, the receiving computer sends an ACK (acknowledgment) to the sending computer. This is basically how a coonection is established.
Sender sends 3 packets, Receiver receives 3 packets and sends "ACK 4" (meaning it received what was sent, and it's ok to send the next number or packet)