All models of Steam Deck are sold out in the US and fingers are inevitably already pointing at the memory crisis

Valve Steam Deck OLED handheld PC — (Image credit: Future)

We already know for sure that the memory crisis has messed up Valve's original plans to price up and launch its upcoming Steam Machine. Now the Steam Deck has sold out online in the US and the obvious question is to ask whether it's down to the same reasons.

Currently, all three versions of the Deck are "Out of stock" on the official US Steam store. So, that's the entry-level 256 GB Steam Deck LCD, the 512 GB Steam Deck OLED and the 1 TB Steam Deck OLED, all goners. That's a worrying development for sure. However, it's not the only data point.

Steam Deck OLED: Limited Edition White — Sold out, but why and for how long? (Image credit: Valve)

One is that gamers have been panic buying Steam Decks, fearful that prices are set to increase thanks to the ongoing AI-driven memory crisis. Another is that Valve has run out of RAM or storage for the devices, either because it can't source any or is unwilling to pay increased prices... or needs that supply for other devices.

Some observers have gone for the latter and pointed the finger clearly at the memory crisis. And you could argue if it's actually panic buying, that too is ultimately down to the memory crisis.

Of course, the US situation could also be related to tariffs. It's hard to keep track of the prevailing tariff situation. But perhaps Valve halted shipments for a time in response to one of the more extreme tariff announcements and that has lead to the current US sell-out. But it could also all just be a temporary and relatively meaningless blip in some territories.

That said, the other question that immediately follows is whether a price adjustment will be applied to the two OLED models if and when they return to availability. Again, there's no official word from Valve. But given how much more memory and storage has become in recent months, not to mention the impact of tariffs, you'd think that was something Valve is at least considering.

For now, then, all we can do is keep a weather eye on the Steam store and Valve's Steam Hardware Events blog for any developments. And cross all our fingers and toes.

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Jeremy has been writing about technology and PCs since the 90nm Netburst era (Google it!) and enjoys nothing more than a serious dissertation on the finer points of monitor input lag and overshoot followed by a forensic examination of advanced lithography. Or maybe he just likes machines that go “ping!” He also has a thing for tennis and cars.

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