Editing Valve Corporation (section)

===Source 2, virtual reality and ''Half-Life: Alyx'' (2015–present)===
Valve announced the [[Source 2]] engine in March 2015 and ported ''Dota 2'' to it that September.<ref>{{cite news|last=Langley|first=Hugh|date=March 3, 2015|title=Valve just announced its plans for Steam Machines... and Source 2|work=[[Tech Radar]]|url=https://www.techradar.com/news/gaming/valve-just-announced-its-plans-for-steam-machines-and-source-2-1287082|url-status=live|access-date=March 3, 2015|archive-url=https://web.archive.org/web/20150306030610/http://www.techradar.com/news/gaming/valve-just-announced-its-plans-for-steam-machines-and-source-2-1287082|archive-date=March 6, 2015}}</ref><ref>{{cite web|last1=Macy|first1=Seth|title=Dota 2 Now Valve's First Ever Source 2 Game|url=https://www.ign.com/articles/2015/09/09/dota-2-now-valves-first-ever-source-2-game|url-status=live|archive-url=https://web.archive.org/web/20150910075128/http://www.ign.com/articles/2015/09/09/dota-2-now-valves-first-ever-source-2-game|archive-date=September 10, 2015|access-date=September 9, 2015|website=IGN|date=September 9, 2015}}</ref> That year, Valve collaborated with the electronics company [[HTC]] to develop the [[HTC Vive]], a [[VR headset]] released in 2016.<ref name="The Final Hours">{{Cite web|last=Keighley|first=Geoff|author-link=Geoff Keighley|date=November 21, 2019|title=The Final Hours of Half-Life: Alyx|url=https://www.youtube.com/watch?v=-9K0eJEmMEw|url-status=live|archive-url=https://web.archive.org/web/20191121191644/https://www.youtube.com/watch?v=-9K0eJEmMEw|archive-date=November 21, 2019|access-date=November 21, 2019|via=[[YouTube]]}}</ref> Valve experimented with VR games, and in 2016 released ''[[The Lab (video game)|The Lab]]'', a collection of VR minigames.<ref name="Reeves">{{Cite magazine|last=Reeves|first=Ben|title=Valve On Why Half-Life: Alyx Needed To Be In VR|url=https://www.gameinformer.com/interview/2020/03/03/valve-on-why-half-life-alyx-needed-to-be-in-vr|url-status=live|archive-url=https://web.archive.org/web/20200304171602/https://www.gameinformer.com/interview/2020/03/03/valve-on-why-half-life-alyx-needed-to-be-in-vr|archive-date=March 4, 2020|access-date=March 4, 2020|magazine=Game Informer}}</ref>

Valve recognized that many players wanted a more ambitious VR [[AAA game]], and began exploring the development of a major VR game.<ref name="Reeves" /> They developed several prototypes, with three further VR projects under development by 2017.<ref>{{Cite web|last=Campbell|first=Colin|date=February 10, 2017|title=Valve is working on three full VR games|url=https://www.polygon.com/virtual-reality/2017/2/10/14580932/valve-is-working-on-three-full-vr-games|url-status=live|archive-url=https://web.archive.org/web/20170302161616/http://www.polygon.com/virtual-reality/2017/2/10/14580932/valve-is-working-on-three-full-vr-games|archive-date=March 2, 2017|access-date=November 21, 2019|website=Polygon}}</ref><ref>{{Cite web|last=Hollister|first=Sean|title=Valve, of Half-Life and Portal, is making 3 full VR games|url=https://www.cnet.com/news/valve-makers-of-half-life-and-portal-are-working-on-three-full-vr-games/|url-status=live|archive-url=https://web.archive.org/web/20180310111923/https://www.cnet.com/news/valve-makers-of-half-life-and-portal-are-working-on-three-full-vr-games/|archive-date=March 10, 2018|access-date=November 21, 2019|website=CNET}}</ref> Finding that the portal systems of their puzzle series ''[[Portal (series)|Portal]]'' were disorienting in VR, they settled on ''Half-Life''.<ref name="The Final Hours" /> Walker said that ''Half-Life 3'' had been a "terrifyingly daunting prospect", and the team saw VR as a way to return to the series.<ref name="The Final Hours" />

Full development of a VR ''Half-Life'' game started around late 2016, with the largest team in Valve's history.<ref name="arstech fhalyx" /><ref name="finalhours alyx">{{cite web|last=Keighley|first=Geoff|author-link=Geoff Keighley|date=November 21, 2019|title=The Final Hours of Half-Life: Alyx|url=https://www.youtube.com/watch?v=-9K0eJEmMEw|access-date=November 21, 2019|via=[[YouTube]]|archive-date=November 21, 2019|archive-url=https://web.archive.org/web/20191121191644/https://www.youtube.com/watch?v=-9K0eJEmMEw|url-status=live}}</ref> Valve acquired the 3D audio software developer Impulsonic in January 2017.<ref>{{cite web |url=https://uploadvr.com/valve-acquires-3d-audio-company-impulsonic/ |title=Sounds Good: Valve Acquires 3D Audio Company Impulsonic |first=Jamie |last=Feltham |date=January 13, 2017 |website=[[UploadVR]] |access-date=February 3, 2020 |archive-date=February 3, 2020 |archive-url=https://web.archive.org/web/20200203075925/https://uploadvr.com/valve-acquires-3d-audio-company-impulsonic/ |url-status=live }}</ref> In April 2018, Valve acquired the independent developer [[Campo Santo (company)|Campo Santo]], known for the 2016 adventure game ''[[Firewatch]]''. Campo Santo planned to develop its own games under Valve, though they initially helped develop ''Half-Life: Alyx''.<ref>{{cite web |url=https://www.polygon.com/2018/4/21/17266690/valve-campo-santo-firewatch-steam |title=Valve acquires Firewatch developer, Campo Santo |first=Julia |last=Alexander |date=April 21, 2018 |access-date=April 21, 2018 |work=[[Polygon (website)|Polygon]] |archive-date=December 3, 2019 |archive-url=https://web.archive.org/web/20191203225838/https://www.polygon.com/2018/4/21/17266690/valve-campo-santo-firewatch-steam |url-status=live }}</ref><ref name="PC Gamer 12">{{cite magazine |url=https://www.pcgamer.com/uk/half-life-alyx-release-date-trailer-everything-we-know/ |title=12 big things we learned about Half-Life: Alyx |first1=Andy |last1=Kelly |first2=Christopher |last2=Livingston |date=November 21, 2019 |magazine=[[PC Gamer]] |url-status=live |archive-url=https://web.archive.org/web/20191123125928/https://www.pcgamer.com/uk/half-life-alyx-release-date-trailer-everything-we-know/ |archive-date=November 23, 2019 |access-date=March 27, 2020}}</ref>

In November 2018, Valve released ''[[Artifact (video game)|Artifact]]'', a [[digital collectible card game]] based on ''Dota 2'', with design by [[Richard Garfield]], the creator of ''[[Magic: The Gathering]]''. ''Artifact'' had unusual pay-for mechanics to acquire new cards, and did not draw a large playerbase, losing 95% of players months after release.<ref name="Disappointment">{{cite web | url = https://www.ign.com/articles/gabe-newell-artifact-giant-disappointment-valve | title = Gabe Newell: Artifact Was a 'Giant Disappointment' | first = Joe | last = Skrebels | date = March 18, 2020 | access-date = March 18, 2020 | work = [[IGN]] | archive-date = March 19, 2020 | archive-url = https://web.archive.org/web/20200319155343/https://www.ign.com/articles/gabe-newell-artifact-giant-disappointment-valve | url-status = live }}</ref> In April 2021, Valve abandoned efforts to reboot the project, saying they had not found enough interested players to justify development.<ref>{{Cite news|last=Machkovech|first=Sam|date=April 3, 2021|title=Valve scraps revamped Artifact, dumps free, unfinished "2.0" version on Steam|url=https://arstechnica.com/gaming/2021/03/valve-scraps-revamped-artifact-dumps-free-unfinished-2-0-version-on-steam/|url-status=live|access-date=May 18, 2021|website=[[Ars Technica]]|archive-date=May 17, 2021|archive-url=https://web.archive.org/web/20210517202222/https://arstechnica.com/gaming/2021/03/valve-scraps-revamped-artifact-dumps-free-unfinished-2-0-version-on-steam/}}</ref> In June 2019, Valve released its second-generation VR hardware, the [[Valve Index]].<ref>{{Cite web |url=https://www.theverge.com/2019/4/30/18524167/valve-index-vr-headset-price-pre-order-date |title=Valve's Index VR headset will officially cost $999, and here's what it's all about |last=Hollister |first=Sean |date=April 30, 2019 |website=The Verge |access-date=June 5, 2019 |archive-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220426060847/https://www.theverge.com/2019/4/30/18524167/valve-index-vr-headset-price-pre-order-date |url-status=live }}</ref> They also released ''[[Dota Underlords]]'' into early access, an [[auto battler]] based on a ''Dota 2'' community-created mode ''[[Dota Auto Chess]]''.<ref>{{cite web |url=https://www.polygon.com/2019/6/21/18683816/dota-underlords-auto-chess-clone |title=Dota Underlords feels like a clone of Auto Chess |first=Ryan |last=Gilliam |date=June 21, 2019 |website=[[Polygon (website)|Polygon]] |access-date=February 3, 2020 |archive-date=June 30, 2019 |archive-url=https://web.archive.org/web/20190630042648/https://www.polygon.com/2019/6/21/18683816/dota-underlords-auto-chess-clone |url-status=live }}</ref> 

In March 2020, Valve released ''[[Half-Life: Alyx]]'', a VR game.<ref>{{cite web|last=Marks|first=Tom|date=March 23, 2020|title=Valve Explains Why Half-Life 2: Episode 3 Was Never Made|url=https://www.ign.com/articles/valve-explains-why-half-life-2-episode-3-was-never-made|access-date=March 23, 2020|work=[[IGN]]|archive-date=March 23, 2020|archive-url=https://web.archive.org/web/20200323171744/https://www.ign.com/articles/valve-explains-why-half-life-2-episode-3-was-never-made|url-status=live}}</ref> It received acclaim<ref name="metacritic2">{{Cite web|title=Half-Life: Alyx for PC Reviews|url=https://www.metacritic.com/game/half-life-alyx/critic-reviews/?platform=pc|url-status=live|archive-url=https://web.archive.org/web/20200216062815/https://www.metacritic.com/game/pc/half-life-alyx|archive-date=February 16, 2020|access-date=April 2, 2020|publisher=[[Metacritic]]}}</ref> and was described as VR's first [[killer app]].<ref>{{Cite web|last=Carbotte|first=Kevin|title=Half-Life: Alyx Gameplay Review: (Almost) Every VR Headset Tested|url=https://www.tomshardware.com/uk/reviews/half-life-alyx-gameplay-vr-headset|access-date=March 24, 2020|website=Tom's Hardware|date=March 23, 2020}}</ref><ref>{{Cite web|last=Robinson|first=Andrew|date=March 23, 2020|title=Review: Half-Life Alyx is VR's stunning killer app|url=https://www.videogameschronicle.com/reviews/half-life-alyx|url-status=live|archive-url=https://web.archive.org/web/20200324213220/https://www.videogameschronicle.com/reviews/half-life-alyx|archive-date=March 24, 2020|access-date=March 24, 2020|website=VGC}}</ref><ref>{{Cite web|last=Oloman|first=Jordan|title=Half-Life: Alyx is a watershed moment for virtual reality {{!}} TechRadar|url=https://www.techradar.com/news/half-life-alyx-is-a-watershed-moment-for-virtual-reality|url-status=live|archive-url=https://web.archive.org/web/20200324211548/https://www.techradar.com/amp/news/half-life-alyx-is-a-watershed-moment-for-virtual-reality|archive-date=March 24, 2020|access-date=May 1, 2022|website=TechRadar|date=March 23, 2020}}</ref><ref>{{Cite web|date=December 27, 2019|title=CES 2020: Teslasuit Will Unveil New Haptic VR Gloves|url=https://www.techtimes.com/articles/246665/20191227/ces-2020-teslasuit-will-unveil-new-haptic-vr-gloves.htm|url-status=live|archive-url=https://web.archive.org/web/20200325084106/https://www.techtimes.com/amp/articles/246665/20191227/ces-2020-teslasuit-will-unveil-new-haptic-vr-gloves.htm|archive-date=March 25, 2020|access-date=May 1, 2022|website=Tech Times}}</ref> Newell said in January 2021 that the success of ''Alyx'' created desire within the company to develop more games, and that several were under development.<ref>{{cite web | url = https://www.videogameschronicle.com/news/gabe-newell-says-valve-has-multiple-games-in-development-and-wants-to-do-more-single-player/ | title = Gabe Newell says Valve has multiple games in development and 'wants to do more single-player' | first = Tom | last = Ivan | date = January 20, 2021 | access-date = January 20, 2021 | work = [[Video Games Chronicle]] | archive-date = January 20, 2021 | archive-url = https://web.archive.org/web/20210120172914/https://www.videogameschronicle.com/news/gabe-newell-says-valve-has-multiple-games-in-development-and-wants-to-do-more-single-player/ | url-status = live }}</ref> Valve collaborated with [[Netflix]] for ''[[Dota: Dragon's Blood]]'', an animated television series based on ''[[Dota]]'', which premiered in March 2021.<ref>{{cite web | url = https://kotaku.com/valve-netflix-are-making-a-dota-anime-1846283800 | title = Valve & Netflix Are Making A DOTA Anime | first = Luke | last = Plunkett | date = February 16, 2021 | access-date = February 16, 2021 | work = [[Kotaku]] | archive-date = February 17, 2021 | archive-url = https://web.archive.org/web/20210217001845/https://kotaku.com/valve-netflix-are-making-a-dota-anime-1846283800 | url-status = live }}</ref> In February 2022, Valve released the [[Steam Deck]], a portable game system that runs on [[SteamOS]].<ref>{{Cite magazine |last=Fenlon |first=Wes |date=February 25, 2022 |title=Steam Deck review |url=https://www.pcgamer.com/uk/steam-deck-review/ |access-date=March 14, 2022 |magazine=[[PC Gamer]] |language=en |archive-date=March 14, 2022 |archive-url=https://web.archive.org/web/20220314105414/https://www.pcgamer.com/uk/steam-deck-review/ |url-status=live }}</ref>  In September 2023, Valve released ''[[Counter-Strike 2]]''. It received generally favorable reviews, but player reception was mixed.<ref>{{Cite news |last=Stanton |first=Rich |date=2023-09-28 |title=What I think of Counter-Strike 2 on day 1 |url=https://www.pcgamer.com/initial-impressions-of-counter-strike-2/ |access-date=2024-08-07 |work=PC Gamer |language=en}}</ref><ref>{{Cite web |last=Shive |first=Chris |date=2023-10-03 |title=Review: Counter-Strike 2 |url=https://hardcoregamer.com/reviews/review-counter-strike-2/473627/ |access-date=2024-08-07 |website=Hardcore Gamer |language=en}}</ref> 

{{anchor|Deadlock}}In 2024, Valve began beta-testing a new multiplayer game, ''[[Deadlock (video game)|Deadlock]]'', a combination of a [[hero shooter]] and [[MOBA]].<ref>{{cite web | url = https://www.pcgamesn.com/deadlock/valve-steam-players | title = Valve's super secretive Deadlock game just hit a big player milestone | first = Will | last = Nelson | date = August 11, 2024 | accessdate = August 11, 2024 | work  = [[PCGamesN]] }}</ref> In September, staff members from Hopoo Games, developers of ''[[Risk of Rain]]'', announced that they had been employed at Valve.<ref>{{cite web |last=Caldwell |first=Brendan |title=Risk Of Rain creators wind down work on unannounced project and take jobs at Valve |url=https://www.rockpapershotgun.com/risk-of-rain-creators-wind-down-work-on-unannounced-project-and-take-jobs-at-valve |website=[[Rock Paper Shotgun]] |date=September 3, 2024 |access-date=September 3, 2024 }}</ref> According to a report by ''Forbes Australia'' published in December 2024, Valve had an annual revenue of $5 billion by 2023, with a 40% profit margin. Steam accounted for around 60% of this revenue, double that of 2019.<ref>{{Cite web |last=Pastis |first=Stephe |date=2024-12-06 |title=How Valve founder Gabe Newell turned ''Half-Life'' into a nearly $10 billion fortune |url=https://www.forbes.com.au/covers/magazine/how-valve-founder-gabe-newell-turned-half-life-into-a-nearly-10-billion-fortune/ |access-date=2024-12-11 |website=[[Forbes Australia]] |language=en-US}}</ref>