https://gcc.gnu.org/bugzilla/show_bug.cgi?id=94671

--- Comment #7 from Jonathan Wakely <redi at gcc dot gnu.org> ---
(In reply to Richard Biener from comment #3)
> The question is whether the standard allows eliding of the side-effect
> setting newCalled to true.

It does.

That side effect happens inside a replaceable global allocation function. The
compiler is allowed to optimise away calls to replaceable global allocation
functions.

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