Status of muon $g-2$ theory

Almost twenty years ago, physicists at Brookhaven National Laboratory measured the muon magnetic moment with a remarkable precision of 0.54 parts per million. Since then, a persistent discrepancy between experimental results and theoretical predictions has hinted at the tantalising possibility of undiscovered forces or elementary particles. However, results from lattice QCD now suggest a resolution to this longstanding discrepancy. In this contribution, I review the current status of theoretical determinations of the muon anomalous magnetic moment in the context of the latest experimental results. I will particularly focus on our evolving understanding of the HVP, and what this means for the possibility of new physics in this longstanding discrepancy.