The effects of the global computer memory shortage called RAMageddon continue as Valve increased the price of its Steam Deck on its website on Wednesday. The handheld gaming device that launched in 2022 for $400 will now cost almost $800 to purchase new. 

Valve’s new pricing for its Steam Deck starts at $790 for its 512GB OLED version, which is a jump of more than $200 from its $550 launch price in 2023, as first spotted by X poster Wario64. The 1TB Steam Deck OLED had an even bigger jump in price, going from $650 to $950. 

Valve didn’t immediately respond to a request for comment about the price increase. 

The price of Steam is rising

This price jump, while sudden, shouldn’t be a surprise for those keeping an eye on Steam hardware (or anything with RAM and storage in it). Back in February, Valve said it was delaying the release of its home PC console, the Steam Machine, and its VR hardware, the Steam Frame, to sometime later this year. Both were revealed last November, however, the company did say that pricing was a concern due to the market conditions causing a spike in demand for important hardware components. 

Valve did not provide any pricing for its Steam Frame and Steam Machine in their reveal or delay announcements, but it was speculated that both should be in the $600-$700 range each. Those estimates are now clearly not feasible, considering the Steam Deck’s components, which have had minimal upgrades since it was first launched in 2022. 

The Steam Deck has also been an item that Valve has had difficulty keeping in stock. For the first half of 2026, those interested had a tough time finding a new one, likely due to issues with the memory shortage and tariffs. 

Gaming is now a luxury hobby

Valve isn’t the only gaming hardware company hurting from this memory shortage. Nintendo said last month it was going to increase the price of its Switch 2 in September by $50 to $500. The company did help soften the blow of the price increase by offering a new bundle that includes a free game. Last year, Nintendo also increased the price of its original Switch console, but that was primarily due to tariffs instituted by President Donald Trump. Nintendo has since sued the US government over tariffs, and Nintendo customers filed a class action suit against the company to get refunds for what they paid due to tariffs. 

Those tariffs were also the heart of the two price increases to the Xbox Series console lineup that happened last year. 

Sony also increased the price of its PS5 console back in March, with its PS5 Pro jumping to $900. This is the first time in the history of gaming that consoles have substantially increased in price years after their launches, and there is no sign of this trend slowing down.