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

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.

As a for instance, the UK Steam store still has all three models in stock. Yup, including the 256 GB LCD model which is listed with the following proviso: "We are no longer producing the Steam Deck LCD 256GB model. Once sold out, it will no longer be available."

From that we can presumably say that the Steam Deck LCD is permanently history on the US Steam store. It's sold out and won't return. So, what's happening with the rest of the model line?

Valve hasn't made a comment, unlike the Steam Machine situation, which was marked by a post on the official Steam Hardware Events blog. So, we are in speculation territory. And there are various possibilities.

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.