We summarize recent developments in the Standard-Model evaluation of the anomalous magnetic moment of the muon a_μ, both in the hadronic-light-by-light and hadronic-vacuum-polarization contributions. The current situation for the latter is puzzling as we are confronted with multiple discrepancies that are not yet understood. We present updated fits of a dispersive representation of the pion vector form factor to the new CMD-3 data set and quantify the tensions with the other high-statistics e⁺e^- → π⁺π^- experiments in the contribution to a_μ in the energy range up to 1 GeV, as well as in the corresponding contribution to the intermediate Euclidean window.