Palantir Technologies Inc. (PLTR) is doing something unusual for a stock with famous bears circling: it's ignoring them completely. Cathie Wood has been trimming her position. Michael Burry is holding roughly 5 million shares worth of put options against it. And yet the stock keeps climbing, powered by a relentless flow of new contracts and AI products that show no signs of slowing down.

The performance speaks for itself. Shares are up 142% year-to-date, gaining 37% over six months and bouncing 7% in just the past five trading days. The stock is hovering near its 52-week high of $207.52, more than triple its 52-week low of $63.40. Apparently nobody told the market about the bearish overhang.

New Contracts Keep Stacking Up

While critics worry about valuation, Palantir is acting like a company hitting its stride. The new U.S. Navy ShipOS contract deepens its foothold in defense, a segment already delivering standout growth. Then there's Chain Reaction OS, an AI system built to coordinate data center energy use. It's a smart play on one of 2025's biggest bottlenecks: power for AI infrastructure.

If data centers are the factories of the AI era, Palantir wants to be the operating system running them.

Growth That Outpaces the Doubts

Third quarter revenue came in at $1.18 billion, up 60% year-over-year. Government sales climbed 52%, while U.S. commercial revenue doubled. The company also raised its full-year 2025 guidance. Analysts remain cautious, clustering their price targets around $200 with Hold or Neutral ratings, but the fundamental momentum hasn't flinched.

The Market Didn't Get the Memo

Cathie Wood is trimming. Michael Burry is shorting. But Palantir keeps signing contracts, beating expectations, and building momentum. For now, at least, the stock is acting like it never heard from the skeptics.