diff --git a/main/src/main/scala/sbt/internal/Continuous.scala b/main/src/main/scala/sbt/internal/Continuous.scala
index 4032b061c..89e5fe00e 100644
--- a/main/src/main/scala/sbt/internal/Continuous.scala
+++ b/main/src/main/scala/sbt/internal/Continuous.scala
@@ -8,7 +8,8 @@
 package sbt
 package internal
 
-import java.io.{ ByteArrayInputStream, InputStream, File => _ }
+import java.io.{ ByteArrayInputStream, IOException, InputStream, File => _ }
+import java.nio.file.Path
 import java.util.concurrent.atomic.{ AtomicBoolean, AtomicInteger }
 
 import sbt.BasicCommandStrings.{
@@ -28,7 +29,7 @@ import sbt.internal.util.complete.{ Parser, Parsers }
 import sbt.internal.util.{ AttributeKey, JLine, Util }
 import sbt.nio.Keys.{ fileInputs, _ }
 import sbt.nio.Watch.{ Creation, Deletion, ShowOptions, Update }
-import sbt.nio.file.FileAttributes
+import sbt.nio.file.{ FileAttributes, Glob }
 import sbt.nio.{ FileStamp, FileStamper, Watch }
 import sbt.util.{ Level, _ }
 
@@ -328,12 +329,14 @@ private[sbt] object Continuous extends DeprecatedContinuous {
     }
     val fileStampCache = new FileStamp.Cache
     repo.addObserver(t => fileStampCache.invalidate(t.path))
+    val persistFileStamps = extracted.get(watchPersistFileStamps)
+    val cachingRepo: FileTreeRepository[FileAttributes] =
+      if (persistFileStamps) repo else new FileStampRepository(fileStampCache, repo)
     try {
-      val stateWithRepo = state.put(globalFileTreeRepository, repo)
+      val stateWithRepo = state.put(globalFileTreeRepository, cachingRepo)
       val fullState =
         addLegacyWatchSetting(
-          if (extracted.get(watchPersistFileStamps))
-            stateWithRepo.put(persistentFileStampCache, fileStampCache)
+          if (persistFileStamps) stateWithRepo.put(persistentFileStampCache, fileStampCache)
           else stateWithRepo
         )
       setup(fullState, commands) { (s, valid, invalid) =>
@@ -1091,4 +1094,17 @@ private[sbt] object Continuous extends DeprecatedContinuous {
     }
   }
 
+  private[sbt] class FileStampRepository(
+      fileStampCache: FileStamp.Cache,
+      underlying: FileTreeRepository[FileAttributes]
+  ) extends FileTreeRepository[FileAttributes] {
+    def putIfAbsent(path: Path, stamper: FileStamper): (Option[FileStamp], Option[FileStamp]) =
+      fileStampCache.putIfAbsent(path, stamper)
+    override def list(path: Path): Seq[(Path, FileAttributes)] = underlying.list(path)
+    override def addObserver(observer: Observer[FileEvent[FileAttributes]]): AutoCloseable =
+      underlying.addObserver(observer)
+    override def register(glob: Glob): Either[IOException, Observable[FileEvent[FileAttributes]]] =
+      underlying.register(glob)
+    override def close(): Unit = underlying.close()
+  }
 }
diff --git a/main/src/main/scala/sbt/nio/FileStamp.scala b/main/src/main/scala/sbt/nio/FileStamp.scala
index 0cd081686..fb6a3fcfb 100644
--- a/main/src/main/scala/sbt/nio/FileStamp.scala
+++ b/main/src/main/scala/sbt/nio/FileStamp.scala
@@ -253,12 +253,12 @@ private[sbt] object FileStamp {
         case e    => e.value
       }
 
-    def putIfAbsent(key: Path, stamper: FileStamper): Unit = {
+    def putIfAbsent(key: Path, stamper: FileStamper): (Option[FileStamp], Option[FileStamp]) = {
       underlying.get(key) match {
-        case null => updateImpl(key, stamper)
-        case _    =>
+        case null     => (None, updateImpl(key, stamper))
+        case Right(s) => (Some(s), None)
+        case Left(_)  => (None, None)
       }
-      ()
     }
     def update(key: Path, stamper: FileStamper): (Option[FileStamp], Option[FileStamp]) = {
       underlying.get(key) match {
diff --git a/main/src/main/scala/sbt/nio/Settings.scala b/main/src/main/scala/sbt/nio/Settings.scala
index 532ed90ae..8600a50e8 100644
--- a/main/src/main/scala/sbt/nio/Settings.scala
+++ b/main/src/main/scala/sbt/nio/Settings.scala
@@ -13,6 +13,7 @@ import java.nio.file.{ Files, Path }
 
 import sbt.Project._
 import sbt.internal.Clean.ToSeqPath
+import sbt.internal.Continuous.FileStampRepository
 import sbt.internal.util.{ AttributeKey, SourcePosition }
 import sbt.internal.{ Clean, Continuous, DynamicInput, SettingsGraph }
 import sbt.nio.FileStamp.{ fileStampJsonFormatter, pathJsonFormatter, _ }
@@ -319,10 +320,22 @@ private[sbt] object Settings {
     addTaskDefinition(Keys.inputFileStamps in scopedKey.scope := {
       val cache = (unmanagedFileStampCache in scopedKey.scope).value
       val stamper = (Keys.inputFileStamper in scopedKey.scope).value
+      val stampFile: Path => Option[(Path, FileStamp)] =
+        sbt.Keys.state.value.get(globalFileTreeRepository) match {
+          case Some(repo: FileStampRepository) =>
+            (path: Path) =>
+              repo.putIfAbsent(path, stamper) match {
+                case (None, Some(s)) =>
+                  cache.put(path, s)
+                  Some(path -> s)
+                case _ => cache.getOrElseUpdate(path, stamper).map(path -> _)
+              }
+          case _ =>
+            (path: Path) => cache.getOrElseUpdate(path, stamper).map(path -> _)
+        }
       (Keys.allInputPathsAndAttributes in scopedKey.scope).value.flatMap {
-        case (p, a) if a.isRegularFile && !Files.isHidden(p) =>
-          cache.getOrElseUpdate(p, stamper).map(p -> _)
-        case _ => None
+        case (path, a) if a.isRegularFile && !Files.isHidden(path) => stampFile(path)
+        case _                                                     => None
       }
     })
   private[this] def outputsAndStamps[T: JsonFormat: ToSeqPath](
diff --git a/main/src/main/scala/sbt/nio/Watch.scala b/main/src/main/scala/sbt/nio/Watch.scala
index efd7d552a..fcb497b65 100644
--- a/main/src/main/scala/sbt/nio/Watch.scala
+++ b/main/src/main/scala/sbt/nio/Watch.scala
@@ -576,7 +576,7 @@ object Watch {
     sbt.Keys.aggregate in watchTasks :== false,
     watchTriggeredMessage :== Watch.defaultOnTriggerMessage,
     watchForceTriggerOnAnyChange :== false,
-    watchPersistFileStamps :== true,
+    watchPersistFileStamps := (sbt.Keys.turbo in ThisBuild).value,
     watchTriggers :== Nil,
   )
 }
diff --git a/sbt/src/sbt-test/watch/on-change/build.sbt b/sbt/src/sbt-test/watch/on-change/build.sbt
index 260e5d1c2..542ca3643 100644
--- a/sbt/src/sbt-test/watch/on-change/build.sbt
+++ b/sbt/src/sbt-test/watch/on-change/build.sbt
@@ -33,4 +33,4 @@ watchOnFileInputEvent := { (_, event: Watch.Event) =>
   else Watch.Trigger
 }
 
-watchAntiEntropy := 0.millis
\ No newline at end of file
+watchAntiEntropy := 0.millis