diff --git a/compiler/packages/babel-plugin-react-compiler/src/HIR/CollectHoistablePropertyLoads.ts b/compiler/packages/babel-plugin-react-compiler/src/HIR/CollectHoistablePropertyLoads.ts
index c47a411451..bca43eba33 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/HIR/CollectHoistablePropertyLoads.ts
+++ b/compiler/packages/babel-plugin-react-compiler/src/HIR/CollectHoistablePropertyLoads.ts
@@ -449,7 +449,19 @@ function collectNonNullsInBlocks(
             innerHoistableMap.get(innerFn.func.body.entry),
           );
           for (const entry of innerHoistables.assumedNonNullObjects) {
-            assumedNonNullObjects.add(entry);
+            /**
+             * Inner functions (e.g. JSX attribute callbacks) prove
+             * non-nullness at invocation time, but NOT at the outer
+             * render scope where cache keys are evaluated. Only
+             * promote an inner hoistable when its root identifier
+             * is already proven non-null in the outer scope.
+             */
+            const rootNode = context.registry.roots.get(
+              entry.fullPath.identifier.id,
+            );
+            if (rootNode != null && assumedNonNullObjects.has(rootNode)) {
+              assumedNonNullObjects.add(entry);
+            }
           }
         }
       } else if (
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-function-member-expr-call.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-function-member-expr-call.expect.md
index cab9c9a500..621ad98de7 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-function-member-expr-call.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-function-member-expr-call.expect.md
@@ -35,11 +35,11 @@ function component(t0) {
   }
   const poke = t1;
   let t2;
-  if ($[2] !== mutator.user) {
+  if ($[2] !== mutator) {
     t2 = () => {
       mutator.user.hide();
     };
-    $[2] = mutator.user;
+    $[2] = mutator;
     $[3] = t2;
   } else {
     t2 = $[3];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-member-expr.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-member-expr.expect.md
index 943533a63d..a51592352b 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-member-expr.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-member-expr.expect.md
@@ -23,27 +23,19 @@ export const FIXTURE_ENTRYPOINT = {
 ```javascript
 import { c as _c } from "react/compiler-runtime";
 function component(a) {
-  const $ = _c(4);
+  const $ = _c(2);
   let t0;
   if ($[0] !== a) {
-    t0 = { a };
+    const z = { a };
+    t0 = function () {
+      console.log(z.a);
+    };
     $[0] = a;
     $[1] = t0;
   } else {
     t0 = $[1];
   }
-  const z = t0;
-  let t1;
-  if ($[2] !== z.a) {
-    t1 = function () {
-      console.log(z.a);
-    };
-    $[2] = z.a;
-    $[3] = t1;
-  } else {
-    t1 = $[3];
-  }
-  const x = t1;
+  const x = t0;
 
   return x;
 }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-nested-member-expr-in-nested-func.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-nested-member-expr-in-nested-func.expect.md
index 9e95af2b0d..cbf30a145c 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-nested-member-expr-in-nested-func.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-nested-member-expr-in-nested-func.expect.md
@@ -25,29 +25,21 @@ export const FIXTURE_ENTRYPOINT = {
 ```javascript
 import { c as _c } from "react/compiler-runtime";
 function component(a) {
-  const $ = _c(4);
+  const $ = _c(2);
   let t0;
   if ($[0] !== a) {
-    t0 = { a: { a } };
-    $[0] = a;
-    $[1] = t0;
-  } else {
-    t0 = $[1];
-  }
-  const z = t0;
-  let t1;
-  if ($[2] !== z.a.a) {
-    t1 = function () {
+    const z = { a: { a } };
+    t0 = function () {
       (function () {
         console.log(z.a.a);
       })();
     };
-    $[2] = z.a.a;
-    $[3] = t1;
+    $[0] = a;
+    $[1] = t0;
   } else {
-    t1 = $[3];
+    t0 = $[1];
   }
-  const x = t1;
+  const x = t0;
 
   return x;
 }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-nested-member-expr.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-nested-member-expr.expect.md
index 13c122750e..f41a7fae4c 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-nested-member-expr.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/capturing-nested-member-expr.expect.md
@@ -23,27 +23,19 @@ export const FIXTURE_ENTRYPOINT = {
 ```javascript
 import { c as _c } from "react/compiler-runtime";
 function component(a) {
-  const $ = _c(4);
+  const $ = _c(2);
   let t0;
   if ($[0] !== a) {
-    t0 = { a: { a } };
+    const z = { a: { a } };
+    t0 = function () {
+      console.log(z.a.a);
+    };
     $[0] = a;
     $[1] = t0;
   } else {
     t0 = $[1];
   }
-  const z = t0;
-  let t1;
-  if ($[2] !== z.a.a) {
-    t1 = function () {
-      console.log(z.a.a);
-    };
-    $[2] = z.a.a;
-    $[3] = t1;
-  } else {
-    t1 = $[3];
-  }
-  const x = t1;
+  const x = t0;
 
   return x;
 }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/destructuring-mixed-scope-and-local-variables-with-default.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/destructuring-mixed-scope-and-local-variables-with-default.expect.md
index 3a8f9e84ca..84f14c026b 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/destructuring-mixed-scope-and-local-variables-with-default.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/destructuring-mixed-scope-and-local-variables-with-default.expect.md
@@ -96,14 +96,14 @@ function Component(props) {
     }
     const urls = t5;
     let t6;
-    if ($[6] !== comments.length) {
+    if ($[6] !== comments) {
       t6 = (e) => {
         if (!comments.length) {
           return;
         }
         console.log(comments.length);
       };
-      $[6] = comments.length;
+      $[6] = comments;
       $[7] = t6;
     } else {
       t6 = $[7];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/destructuring-mixed-scope-declarations-and-locals.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/destructuring-mixed-scope-declarations-and-locals.expect.md
index fbb6e50871..046669da02 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/destructuring-mixed-scope-declarations-and-locals.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/destructuring-mixed-scope-declarations-and-locals.expect.md
@@ -55,14 +55,14 @@ function Component(props) {
     const allUrls = [];
     const { media, comments, urls } = post;
     let t1;
-    if ($[2] !== comments.length) {
+    if ($[2] !== comments) {
       t1 = (e) => {
         if (!comments.length) {
           return;
         }
         console.log(comments.length);
       };
-      $[2] = comments.length;
+      $[2] = comments;
       $[3] = t1;
     } else {
       t1 = $[3];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/error.ref-like-name-not-Ref.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/error.ref-like-name-not-Ref.expect.md
index 2558d10d19..6e62d38d90 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/error.ref-like-name-not-Ref.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/error.ref-like-name-not-Ref.expect.md
@@ -35,7 +35,7 @@ Found 1 error:
 
 Compilation Skipped: Existing memoization could not be preserved
 
-React Compiler has skipped optimizing this component because the existing manual memoization could not be preserved. The inferred dependencies did not match the manually specified dependencies, which could cause the value to change more or less frequently than expected. The inferred dependency was `Ref.current`, but the source dependencies were []. Inferred dependency not present in source.
+React Compiler has skipped optimizing this component because the existing manual memoization could not be preserved. The inferred dependencies did not match the manually specified dependencies, which could cause the value to change more or less frequently than expected. The inferred dependency was `Ref`, but the source dependencies were []. Inferred dependency not present in source.
 
 error.ref-like-name-not-Ref.ts:11:30
    9 |   const Ref = useCustomRef();
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/error.ref-like-name-not-a-ref.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/error.ref-like-name-not-a-ref.expect.md
index 2c2f725ec8..27f91a19a2 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/error.ref-like-name-not-a-ref.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/error.ref-like-name-not-a-ref.expect.md
@@ -35,7 +35,7 @@ Found 1 error:
 
 Compilation Skipped: Existing memoization could not be preserved
 
-React Compiler has skipped optimizing this component because the existing manual memoization could not be preserved. The inferred dependencies did not match the manually specified dependencies, which could cause the value to change more or less frequently than expected. The inferred dependency was `notaref.current`, but the source dependencies were []. Inferred dependency not present in source.
+React Compiler has skipped optimizing this component because the existing manual memoization could not be preserved. The inferred dependencies did not match the manually specified dependencies, which could cause the value to change more or less frequently than expected. The inferred dependency was `notaref`, but the source dependencies were []. Inferred dependency not present in source.
 
 error.ref-like-name-not-a-ref.ts:11:30
    9 |   const notaref = useCustomRef();
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/hook-call-freezes-captured-memberexpr.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/hook-call-freezes-captured-memberexpr.expect.md
index 957919516d..70ca300b0e 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/hook-call-freezes-captured-memberexpr.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/hook-call-freezes-captured-memberexpr.expect.md
@@ -45,9 +45,9 @@ function Foo(t0) {
   }
   const x = t1;
   let t2;
-  if ($[2] !== x.inner) {
+  if ($[2] !== x) {
     t2 = () => x.inner;
-    $[2] = x.inner;
+    $[2] = x;
     $[3] = t2;
   } else {
     t2 = $[3];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/array-map-named-callback-cross-context.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/array-map-named-callback-cross-context.expect.md
index c1a6dfb3ea..864c16a9d6 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/array-map-named-callback-cross-context.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/array-map-named-callback-cross-context.expect.md
@@ -60,9 +60,9 @@ function useFoo(t0) {
   const $ = _c(13);
   const { arr1, arr2 } = t0;
   let t1;
-  if ($[0] !== arr1[0]) {
+  if ($[0] !== arr1) {
     t1 = (e) => arr1[0].value + e.value;
-    $[0] = arr1[0];
+    $[0] = arr1;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditional-call-chain.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditional-call-chain.expect.md
index 4622beeb0e..f307087325 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditional-call-chain.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditional-call-chain.expect.md
@@ -45,22 +45,22 @@ function Component(t0) {
   const $ = _c(7);
   const { a, b } = t0;
   let t1;
-  if ($[0] !== a.value) {
+  if ($[0] !== a) {
     t1 = () => {
       console.log(a.value);
     };
-    $[0] = a.value;
+    $[0] = a;
     $[1] = t1;
   } else {
     t1 = $[1];
   }
   const logA = t1;
   let t2;
-  if ($[2] !== b.value) {
+  if ($[2] !== b) {
     t2 = () => {
       console.log(b.value);
     };
-    $[2] = b.value;
+    $[2] = b;
     $[3] = t2;
   } else {
     t2 = $[3];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditional-call.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditional-call.expect.md
index 0080fd0468..64cc42e487 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditional-call.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditional-call.expect.md
@@ -44,13 +44,13 @@ function useMakeCallback(t0) {
   const { obj } = t0;
   const [state, setState] = useState(0);
   let t1;
-  if ($[0] !== obj.value) {
+  if ($[0] !== obj) {
     t1 = () => {
       if (obj.value !== 0) {
         setState(obj.value);
       }
     };
-    $[0] = obj.value;
+    $[0] = obj;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditionally-return-fn.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditionally-return-fn.expect.md
index 77b62bc8c2..933f5d6e97 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditionally-return-fn.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/conditionally-return-fn.expect.md
@@ -51,9 +51,9 @@ function useMakeCallback(t0) {
   const $ = _c(3);
   const { obj, shouldMakeCb, setState } = t0;
   let t1;
-  if ($[0] !== obj.value || $[1] !== setState) {
+  if ($[0] !== obj || $[1] !== setState) {
     t1 = () => setState(obj.value);
-    $[0] = obj.value;
+    $[0] = obj;
     $[1] = setState;
     $[2] = t1;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/direct-call.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/direct-call.expect.md
index 2f31be1ffe..4bd97be6c2 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/direct-call.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/direct-call.expect.md
@@ -34,13 +34,13 @@ function useMakeCallback(t0) {
   const { obj } = t0;
   const [state, setState] = useState(0);
   let t1;
-  if ($[0] !== obj.value || $[1] !== state) {
+  if ($[0] !== obj || $[1] !== state) {
     t1 = () => {
       if (obj.value !== state) {
         setState(obj.value);
       }
     };
-    $[0] = obj.value;
+    $[0] = obj;
     $[1] = state;
     $[2] = t1;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/function-with-conditional-callsite-in-another-function.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/function-with-conditional-callsite-in-another-function.expect.md
index 8301912b02..6663da19e2 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/function-with-conditional-callsite-in-another-function.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/function-with-conditional-callsite-in-another-function.expect.md
@@ -89,9 +89,9 @@ function useMakeCallback(t0) {
   const $ = _c(6);
   const { obj, cond, setState } = t0;
   let t1;
-  if ($[0] !== obj.value || $[1] !== setState) {
+  if ($[0] !== obj || $[1] !== setState) {
     t1 = () => setState(obj.value);
-    $[0] = obj.value;
+    $[0] = obj;
     $[1] = setState;
     $[2] = t1;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/hook-call.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/hook-call.expect.md
index ab8326a228..12a7450953 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/hook-call.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/hook-call.expect.md
@@ -48,9 +48,9 @@ function useMakeCallback(t0) {
   const $ = _c(3);
   const { obj, setState } = t0;
   let t1;
-  if ($[0] !== obj.value || $[1] !== setState) {
+  if ($[0] !== obj || $[1] !== setState) {
     t1 = () => setState(obj.value);
-    $[0] = obj.value;
+    $[0] = obj;
     $[1] = setState;
     $[2] = t1;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/jsx-function.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/jsx-function.expect.md
index 76228fc249..06d56f48b6 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/jsx-function.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/jsx-function.expect.md
@@ -44,9 +44,9 @@ function useMakeCallback(t0) {
   const $ = _c(3);
   const { obj, setState } = t0;
   let t1;
-  if ($[0] !== obj.value || $[1] !== setState) {
+  if ($[0] !== obj || $[1] !== setState) {
     t1 = <Stringify cb={() => setState(obj.value)} shouldInvokeFns={true} />;
-    $[0] = obj.value;
+    $[0] = obj;
     $[1] = setState;
     $[2] = t1;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/return-function.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/return-function.expect.md
index 31e317d07e..8e40997e33 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/return-function.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/assume-invoked/return-function.expect.md
@@ -47,9 +47,9 @@ function useMakeCallback(t0) {
   const $ = _c(3);
   const { obj, setState } = t0;
   let t1;
-  if ($[0] !== obj.value || $[1] !== setState) {
+  if ($[0] !== obj || $[1] !== setState) {
     t1 = () => setState(obj.value);
-    $[0] = obj.value;
+    $[0] = obj;
     $[1] = setState;
     $[2] = t1;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/bug-invalid-array-map-manual.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/bug-invalid-array-map-manual.expect.md
index 3e729afe52..df8e7cdf0f 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/bug-invalid-array-map-manual.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/inner-function/nullable-objects/bug-invalid-array-map-manual.expect.md
@@ -31,9 +31,9 @@ function useFoo(t0) {
   const $ = _c(5);
   const { arr1, arr2 } = t0;
   let t1;
-  if ($[0] !== arr2[0].value) {
+  if ($[0] !== arr2) {
     t1 = (e) => arr2[0].value + e.value;
-    $[0] = arr2[0].value;
+    $[0] = arr2;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/new-mutability/array-map-named-callback-cross-context.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/new-mutability/array-map-named-callback-cross-context.expect.md
index 7bc2c193cf..671dcb539c 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/new-mutability/array-map-named-callback-cross-context.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/new-mutability/array-map-named-callback-cross-context.expect.md
@@ -61,9 +61,9 @@ function useFoo(t0) {
   const $ = _c(13);
   const { arr1, arr2 } = t0;
   let t1;
-  if ($[0] !== arr1[0]) {
+  if ($[0] !== arr1) {
     t1 = (e) => arr1[0].value + e.value;
-    $[0] = arr1[0];
+    $[0] = arr1;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/new-mutability/nullable-objects-assume-invoked-direct-call.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/new-mutability/nullable-objects-assume-invoked-direct-call.expect.md
index 5033da8eac..b42e7e8fcf 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/new-mutability/nullable-objects-assume-invoked-direct-call.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/new-mutability/nullable-objects-assume-invoked-direct-call.expect.md
@@ -35,13 +35,13 @@ function useMakeCallback(t0) {
   const { obj } = t0;
   const [state, setState] = useState(0);
   let t1;
-  if ($[0] !== obj.value || $[1] !== state) {
+  if ($[0] !== obj || $[1] !== state) {
     t1 = () => {
       if (obj.value !== state) {
         setState(obj.value);
       }
     };
-    $[0] = obj.value;
+    $[0] = obj;
     $[1] = state;
     $[2] = t1;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/nullable-closure-property-dep.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/nullable-closure-property-dep.expect.md
new file mode 100644
index 0000000000..6b8de799db
--- /dev/null
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/nullable-closure-property-dep.expect.md
@@ -0,0 +1,58 @@
+
+## Input
+
+```javascript
+// Closure property accesses on nullable objects should not be eagerly
+// evaluated as cache keys. The compiler must not hoist `user.name` out
+// of the closure when `user` could be null at render time.
+const MyComponent = ({user}) => {
+  const handleClick = () => {
+    console.log(user.name);
+  };
+
+  if (!user) return null;
+
+  return <button onClick={handleClick}>Click</button>;
+};
+
+```
+
+## Code
+
+```javascript
+import { c as _c } from "react/compiler-runtime"; // Closure property accesses on nullable objects should not be eagerly
+// evaluated as cache keys. The compiler must not hoist `user.name` out
+// of the closure when `user` could be null at render time.
+const MyComponent = (t0) => {
+  const $ = _c(4);
+  const { user } = t0;
+  let t1;
+  if ($[0] !== user) {
+    t1 = () => {
+      console.log(user.name);
+    };
+    $[0] = user;
+    $[1] = t1;
+  } else {
+    t1 = $[1];
+  }
+  const handleClick = t1;
+
+  if (!user) {
+    return null;
+  }
+  let t2;
+  if ($[2] !== handleClick) {
+    t2 = <button onClick={handleClick}>Click</button>;
+    $[2] = handleClick;
+    $[3] = t2;
+  } else {
+    t2 = $[3];
+  }
+  return t2;
+};
+
+```
+      
+### Eval output
+(kind: exception) Fixture not implemented
\ No newline at end of file
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/nullable-closure-property-dep.js b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/nullable-closure-property-dep.js
new file mode 100644
index 0000000000..326f6bb782
--- /dev/null
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/nullable-closure-property-dep.js
@@ -0,0 +1,12 @@
+// Closure property accesses on nullable objects should not be eagerly
+// evaluated as cache keys. The compiler must not hoist `user.name` out
+// of the closure when `user` could be null at render time.
+const MyComponent = ({user}) => {
+  const handleClick = () => {
+    console.log(user.name);
+  };
+
+  if (!user) return null;
+
+  return <button onClick={handleClick}>Click</button>;
+};
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/preserve-memo-validation/error.useCallback-conditional-access-noAlloc.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/preserve-memo-validation/error.useCallback-conditional-access-noAlloc.expect.md
index 075458831b..0aa4318090 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/preserve-memo-validation/error.useCallback-conditional-access-noAlloc.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/preserve-memo-validation/error.useCallback-conditional-access-noAlloc.expect.md
@@ -29,7 +29,7 @@ Found 1 error:
 
 Compilation Skipped: Existing memoization could not be preserved
 
-React Compiler has skipped optimizing this component because the existing manual memoization could not be preserved. The inferred dependencies did not match the manually specified dependencies, which could cause the value to change more or less frequently than expected. The inferred dependency was `propB?.x.y`, but the source dependencies were [propA, propB.x.y]. Inferred different dependency than source.
+React Compiler has skipped optimizing this component because the existing manual memoization could not be preserved. The inferred dependencies did not match the manually specified dependencies, which could cause the value to change more or less frequently than expected. The inferred dependency was `propB?.x`, but the source dependencies were [propA, propB.x.y]. Inferred different dependency than source.
 
 error.useCallback-conditional-access-noAlloc.ts:5:21
    3 |
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/preserve-memo-validation/useCallback-infer-more-specific.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/preserve-memo-validation/useCallback-infer-more-specific.expect.md
index 7e57f29492..5c2192e35d 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/preserve-memo-validation/useCallback-infer-more-specific.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/preserve-memo-validation/useCallback-infer-more-specific.expect.md
@@ -37,9 +37,9 @@ import { useCallback } from "react";
 function useHook(x) {
   const $ = _c(2);
   let t0;
-  if ($[0] !== x.y.z) {
+  if ($[0] !== x) {
     t0 = () => [x.y.z];
-    $[0] = x.y.z;
+    $[0] = x;
     $[1] = t0;
   } else {
     t0 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-hoisted.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-hoisted.expect.md
index 1ddc7495bc..9ddead2734 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-hoisted.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-hoisted.expect.md
@@ -29,9 +29,9 @@ function useFoo(t0) {
   const $ = _c(2);
   const { a } = t0;
   let t1;
-  if ($[0] !== a.b.c) {
+  if ($[0] !== a) {
     t1 = <Stringify fn={() => a.b.c} shouldInvokeFns={true} />;
-    $[0] = a.b.c;
+    $[0] = a;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-hoists-other-dep.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-hoists-other-dep.expect.md
index d82956e4a0..eab9491c47 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-hoists-other-dep.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-hoists-other-dep.expect.md
@@ -51,12 +51,12 @@ function Foo(t0) {
   const fn = t1;
   useIdentity(null);
   let x;
-  if ($[2] !== a.b.c || $[3] !== cond) {
+  if ($[2] !== a || $[3] !== cond) {
     x = makeArray();
     if (cond) {
       x.push(identity(a.b.c));
     }
-    $[2] = a.b.c;
+    $[2] = a;
     $[3] = cond;
     $[4] = x;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-local-var.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-local-var.expect.md
index 41bab7ccc9..dd52d90b45 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-local-var.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-access-local-var.expect.md
@@ -41,10 +41,10 @@ function useFoo(t0) {
     local = $[1];
   }
   let t1;
-  if ($[2] !== local.b.c) {
+  if ($[2] !== local) {
     const fn = () => local.b.c;
     t1 = <Stringify fn={fn} shouldInvokeFns={true} />;
-    $[2] = local.b.c;
+    $[2] = local;
     $[3] = t1;
   } else {
     t1 = $[3];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-optional-hoists-other-dep.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-optional-hoists-other-dep.expect.md
index c81e59ecea..7d8c1b32db 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-optional-hoists-other-dep.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-function-uncond-optional-hoists-other-dep.expect.md
@@ -50,12 +50,12 @@ function Foo(t0) {
   const fn = t1;
   useIdentity(null);
   let arr;
-  if ($[2] !== a.b?.c.e || $[3] !== cond) {
+  if ($[2] !== a || $[3] !== cond) {
     arr = makeArray();
     if (cond) {
       arr.push(identity(a.b?.c.e));
     }
-    $[2] = a.b?.c.e;
+    $[2] = a;
     $[3] = cond;
     $[4] = arr;
   } else {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-nested-function-uncond-access.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-nested-function-uncond-access.expect.md
index 77f5ae4db3..443b1863bd 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-nested-function-uncond-access.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/infer-nested-function-uncond-access.expect.md
@@ -34,10 +34,10 @@ function useFoo(t0) {
   const $ = _c(2);
   const { a } = t0;
   let t1;
-  if ($[0] !== a.b.c) {
+  if ($[0] !== a) {
     const fn = () => () => ({ value: a.b.c });
     t1 = <Stringify fn={fn} shouldInvokeFns={true} />;
-    $[0] = a.b.c;
+    $[0] = a;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/todo-infer-function-uncond-optionals-hoisted.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/todo-infer-function-uncond-optionals-hoisted.expect.md
index ed56ff0681..883d4dc8d6 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/todo-infer-function-uncond-optionals-hoisted.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/reduce-reactive-deps/todo-infer-function-uncond-optionals-hoisted.expect.md
@@ -34,9 +34,9 @@ function useFoo(t0) {
   const $ = _c(2);
   const { a } = t0;
   let t1;
-  if ($[0] !== a.b?.c.d?.e) {
+  if ($[0] !== a) {
     t1 = <Stringify fn={() => a.b?.c.d?.e} shouldInvokeFns={true} />;
-    $[0] = a.b?.c.d?.e;
+    $[0] = a;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/repro-invariant.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/repro-invariant.expect.md
index 73df2b615b..cdb9d67e36 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/repro-invariant.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/propagate-scope-deps-hir-fork/repro-invariant.expect.md
@@ -29,9 +29,9 @@ function Foo(t0) {
   const $ = _c(5);
   const { data } = t0;
   let t1;
-  if ($[0] !== data.a.d) {
+  if ($[0] !== data.a) {
     t1 = () => data.a.d;
-    $[0] = data.a.d;
+    $[0] = data.a;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/todo-infer-function-uncond-optionals-hoisted.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/todo-infer-function-uncond-optionals-hoisted.expect.md
index bb99a5d90f..1c65af0fe6 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/todo-infer-function-uncond-optionals-hoisted.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/todo-infer-function-uncond-optionals-hoisted.expect.md
@@ -31,9 +31,9 @@ function useFoo(t0) {
   const $ = _c(2);
   const { a } = t0;
   let t1;
-  if ($[0] !== a.b?.c.d?.e) {
+  if ($[0] !== a) {
     t1 = <Stringify fn={() => a.b?.c.d?.e} shouldInvokeFns={true} />;
-    $[0] = a.b?.c.d?.e;
+    $[0] = a;
     $[1] = t1;
   } else {
     t1 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/repro-context-var-reassign-no-scope.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/repro-context-var-reassign-no-scope.expect.md
index cacd564922..3b21db2328 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/repro-context-var-reassign-no-scope.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/repro-context-var-reassign-no-scope.expect.md
@@ -44,7 +44,7 @@ import { useState, useEffect } from "react";
 import { invoke, Stringify } from "shared-runtime";
 
 function Content() {
-  const $ = _c(8);
+  const $ = _c(7);
   const [announcement, setAnnouncement] = useState("");
   let t0;
   if ($[0] === Symbol.for("react.memo_cache_sentinel")) {
@@ -55,7 +55,8 @@ function Content() {
   }
   const [users, setUsers] = useState(t0);
   let t1;
-  if ($[1] !== users.length) {
+  let t2;
+  if ($[1] !== users) {
     t1 = () => {
       if (users.length === 2) {
         let removedUserName = "";
@@ -65,32 +66,26 @@ function Content() {
           newUsers.pop();
           return newUsers;
         });
-
         setAnnouncement(`Removed user (${removedUserName})`);
       }
     };
-    $[1] = users.length;
+    t2 = [users];
+    $[1] = users;
     $[2] = t1;
+    $[3] = t2;
   } else {
     t1 = $[2];
-  }
-  let t2;
-  if ($[3] !== users) {
-    t2 = [users];
-    $[3] = users;
-    $[4] = t2;
-  } else {
-    t2 = $[4];
+    t2 = $[3];
   }
   useEffect(t1, t2);
   let t3;
-  if ($[5] !== announcement || $[6] !== users) {
+  if ($[4] !== announcement || $[5] !== users) {
     t3 = <Stringify users={users} announcement={announcement} />;
-    $[5] = announcement;
-    $[6] = users;
-    $[7] = t3;
+    $[4] = announcement;
+    $[5] = users;
+    $[6] = t3;
   } else {
-    t3 = $[7];
+    t3 = $[6];
   }
   return t3;
 }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-maybe-mutate-context-in-callback.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-maybe-mutate-context-in-callback.expect.md
index 0525a0f7cd..1170316958 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-maybe-mutate-context-in-callback.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-maybe-mutate-context-in-callback.expect.md
@@ -41,11 +41,11 @@ function Component(props) {
   const $ = _c(5);
   const Foo = useContext(FooContext);
   let t0;
-  if ($[0] !== Foo.current) {
+  if ($[0] !== Foo) {
     t0 = () => {
       mutate(Foo.current);
     };
-    $[0] = Foo.current;
+    $[0] = Foo;
     $[1] = t0;
   } else {
     t0 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-read-context-in-callback-if-condition.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-read-context-in-callback-if-condition.expect.md
index 84f25ec257..8e0b805565 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-read-context-in-callback-if-condition.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-read-context-in-callback-if-condition.expect.md
@@ -42,7 +42,7 @@ function Component(props) {
   const $ = _c(4);
   const foo = useContext(FooContext);
   let t0;
-  if ($[0] !== foo.current) {
+  if ($[0] !== foo) {
     const getValue = () => {
       if (foo.current) {
         return {};
@@ -51,7 +51,7 @@ function Component(props) {
       }
     };
     t0 = getValue();
-    $[0] = foo.current;
+    $[0] = foo;
     $[1] = t0;
   } else {
     t0 = $[1];
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-read-context-in-callback.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-read-context-in-callback.expect.md
index e805b7f400..09dbbc230f 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-read-context-in-callback.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/useContext-read-context-in-callback.expect.md
@@ -34,11 +34,11 @@ function Component(props) {
   const $ = _c(5);
   const foo = useContext(FooContext);
   let t0;
-  if ($[0] !== foo.current) {
+  if ($[0] !== foo) {
     t0 = () => {
       console.log(foo.current);
     };
-    $[0] = foo.current;
+    $[0] = foo;
     $[1] = t0;
   } else {
     t0 = $[1];