Index: wp-includes/ms-load.php
===================================================================
--- wp-includes/ms-load.php	(revision 17488)
+++ wp-includes/ms-load.php	(working copy)
@@ -119,8 +119,8 @@
 		$current_site->site_name = $wpdb->get_var( $wpdb->prepare( "SELECT meta_value FROM $wpdb->sitemeta WHERE site_id = %d AND meta_key = 'site_name'", $current_site->id ) );
 		if ( ! $current_site->site_name )
 			$current_site->site_name = ucfirst( $current_site->domain );
+		wp_cache_set( $current_site->id . ':site_name', $current_site->site_name, 'site-options' );
 	}
-	wp_cache_set( $current_site->id . ':site_name', $current_site->site_name, 'site-options' );
 
 	return $current_site;
 }