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Palantir (PLTR) Stock Surges 15% Following Iran Conflict and Defense Tech Boom

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PLTR Stock Card

Key Highlights

  • Shares of Palantir finished the week at $157.16, marking a 15% weekly gain—the strongest performance since August
  • U.S. military operations in Iran increased investor appetite for defense technology companies, with Palantir positioned as a primary beneficiary
  • Approximately 60% of Palantir’s total revenue comes from government contracts, and its systems were deployed during Iran missions
  • Rosenblatt Securities lifted its price target to $200; Piper Sandler maintains a $230 objective
  • Pentagon’s blacklisting of Anthropic created uncertainty around Palantir’s AI collaboration, though analysts believe substitutes are available

Shares of Palantir ($PLTR) delivered exceptional returns this week even as broader markets faced headwinds. The stock ended Friday’s session at $157.16, climbing roughly 2.9% for the day and posting a remarkable 15% weekly advance—marking its most impressive week since August.


PLTR Stock Card
Palantir Technologies Inc., PLTR

Meanwhile, the wider market trended downward. The Nasdaq composite declined 1.2% over the same period, pressured by weakness in Apple, Google, and Micron. Crude oil prices jumped, while February’s employment data revealed an unexpected contraction in U.S. payrolls.

Palantir shares rallied as market participants responded to U.S. military strikes against Iranian targets. Government-related business represents approximately 60% of the company’s total revenue stream, and Palantir has been expanding its relationships with defense and intelligence organizations.

The company’s Maven Smart System delivers artificial intelligence functionality including targeting assistance for weapons systems to American armed forces, and these platforms were reportedly utilized throughout the Iran operations. In 2024, Palantir secured a $10 billion agreement with the U.S. Army.

President Trump has offered no signals that the confrontation will conclude soon, which maintained buying pressure among defense-oriented investors throughout the week.

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Wall Street Increases Price Forecasts

Rosenblatt Securities maintained its buy recommendation on PLTR while elevating its price objective to $200 from $150. The firm stated that escalating Middle East tensions “bodes well” for Palantir’s government contract pipeline and suggested additional large-scale Army contracts may materialize.

Piper Sandler confirmed its overweight stance and kept its $230 price forecast unchanged. Citigroup holds a $260 target alongside a buy rating. The analyst consensus tracked by MarketBeat registers as “Moderate Buy” with a mean price target of $192.68.

UBS elevated PLTR from neutral to buy during the week, although it reduced its target to $150.

The company’s latest quarterly results, released February 2, exceeded Wall Street estimates. Palantir delivered $0.25 earnings per share against the $0.23 consensus forecast and reported $1.41 billion in sales, representing 70% year-over-year growth. Net profit margin reached 36.31%.

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Pentagon Blacklists Anthropic, Creating Uncertainty

One challenge emerging this week involved the Pentagon’s decision to blacklist Anthropic as an approved government vendor. The parties were unable to negotiate terms regarding AI model deployment for autonomous weapons systems and domestic monitoring activities.

Palantir, Amazon Web Services, and Anthropic had announced a collaboration in November 2024 to deliver Claude AI models to military and intelligence organizations. Anthropic had also obtained a $200 million Defense Department award and became the first AI company to integrate its models within classified government networks.

Palantir has not issued public commentary regarding its plans for the Anthropic collaboration. Rosenblatt Securities observed that “adequate alternatives” to Claude models exist. Piper Sandler adopted a more measured view, noting that substituting Anthropic will require time that could otherwise be devoted to expansion initiatives.

Anthropic CEO Dario Amodei stated in a Thursday blog post that he has “no choice” but to pursue legal action challenging the blacklisting decision.

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The stock received additional momentum from a wider software sector recovery. The iShares Expanded Tech-Software Sector ETF jumped nearly 8% during the week. CrowdStrike, ServiceNow, and AppLovin each recorded gains exceeding 15%.

The company’s 50-day moving average currently sits at $156.11. Palantir’s market capitalization stands at approximately $375.9 billion, with a price-to-earnings ratio of 249.

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Crypto World

Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens

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Ethereum Price Prediction

Crypto analyst Ansem argues that Ethereum (ETH) is in a “worse spot” in 2026 than it was in 2023, pointing to a thesis he says has been eroding for years.

His bearish take drew rebuttals from some members of the community. Meanwhile, on-chain activity and technical indicators elsewhere on the network flash bullish signals.

Ansem Lists Cracks in the ETH Thesis

Ansem argues that Solana (SOL) has dominated retail activity this cycle. Hyperliquid has taken the lead in perpetual futures trading, while rollups have failed to gain traction.

He also noted that Vitalik Buterin “publicly abandoned” the general-use rollup thesis. The ongoing Aave (AAVE) situation around the KelpDAO rsETH exploit, Ansem said, is a mark on  Ethereum’s core value proposition of “safety + security of defi & insto interest.

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“ETH thesis has been weakening consistently for years,” the analyst wrote. ETH in 2026 is in a worse spot than it was in 2023, amplified by AI doing extremely well & tech stocks being much more favorable investments with real revenues / emerging narratives / increasing momentum, ETH is a $300B asset with a ton of overhang from Tom Lee topblasting + complacent ETH holders sitting idle in defi protocols.”

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Technically, the analyst noted that ETH remains in a sustained downtrend after failing to break multi-year resistance. He projected that the second-largest cryptocurrency could slip to 2025 lows near $1,300 and to the bear-market lows from 2022.

“Tight invalidation 2377 assuming problems worsen if you want to play it loose assuming other risk assets continues doing well & drags it up probably somewhere around 2700/2800 invalidation fundamentals wise would want to see breakout activity from some new vertical,” the post read.

Ethereum Price Prediction
Ethereum Price Prediction. Source: X/Ansem

Community Members Push Back

The take triggered notable pushback. Ryan Berckmans accused Ansem of not understanding fundamentals. Leo Lanza went further, sharply dismissing the analyst’s bearish case on X.

Another user pointed to a 56% drop in the SOL/ETH pair this cycle.

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“Soleth is down 56% after being up 12x+ *this cycle* because one guy decided to buy 5% of the eth supply after it had underperformed all cycle. idk why you guys act like i dont also bearpost solana i havent posted anything bullish about sol in over a year,” Ansem replied.

Not everyone shares the bearish view on Ethereum. BeInCrypto recently highlighted that network activity remains strong, while technical indicators like the Rainbow Chart and MACD are also flashing bullish signals.

With macro and geopolitical uncertainty still in play, the question is whether ETH slides further this year or stages a renewed rally.

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The post Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens appeared first on BeInCrypto.

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals.

Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to $18.6 billion by Sunday, losing the top spot as the largest DeFi protocol. 

Aave v3’s lending pools for USDt (USDT) and USDC (USDC) are now at 100% utilization, meaning that more than $5.1 billion worth of stablecoins cannot be withdrawn until new liquidity arrives or borrows are repaid. 

$2,540 is available to be withdrawn from the $2.87 billion USDT pool on Aave v3 at the time of writing. Source: Aave

Aave’s TVL fall shows how rapidly risk from a single security incident can spread throughout the broader, interconnected DeFi lending market, potentially leading to a severe liquidity crisis.

The incident began on Saturday when hackers stole 116,500 Kelp DAO Restaked ETH (rsETH) tokens worth about $293 million from Kelp DAO’s LayerZero-powered bridge and used them as collateral on Aave v3 to borrow wrapped Ether (wETH).

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Crypto analytics platform Lookonchain said the move created about $195 million in “bad debt” on Aave, which contributed to the Aave (AAVE) token tanking nearly 20% from $112 on Saturday at 6:00 pm UTC to $89.5 about 25 hours later. 

Lookonchain noted that some of the largest crypto whales to withdraw funds from Aave were the MEXC crypto exchange and Abraxas Capital at $431 million and $392 million, respectively.

Source: Grvt

Several crypto networks and protocols tied to rsETH or the LayerZero bridge have paused use of the bridge until the problem is resolved, including DeFi platform Curve Finance, stablecoin issuer Ethena and BitGo’s Wrapped Bitcoin (WBTC).

Aave has frozen several rsETH, wETH markets

Shortly after the Kelp DAO exploit, Aave said it froze the rsETH markets on both Aave v3 and v4 to prevent any suspicious borrowing and later stated that rsETH on Ethereum mainnet remains fully backed by underlying assets.

WETH reserves also remain frozen on Ethereum, Arbitrum, Base, Mantle and Linea, Aave said.

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This incident marks the first significant stress test of Aave’s “Umbrella” security model, which was introduced in June 2025 to provide automated protection against protocol bad debt while enabling users to earn rewards.

Related: Aave DAO backs V4 mainnet plan in near-unanimous vote

Earlier this month, the Bank of Canada found that Aave avoided bad debt in its v3 market by using overcollateralization, automated liquidations and other strategies that shifted risk to borrowers.

In comments to Cointelegraph, Aave defended its liquidation-based model, framing it as a core safety mechanism that protects lenders while limiting downside for borrowers.

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It comes as Aave parted ways with its longest-standing DeFi risk service provider, Chaos Labs, on April 6, following disagreements over the direction of Aave v4 and budget constraints.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?