The new Xbox will play PC games, which makes me wonder about the future of the Steam Machine

Two unlikely rivals, now staring at each other's turf.

PC Gamer
Valve Stands Firm the Steam Machine Will Launch In 2026 Despite Delays, 'Memory and Storage Shortages' Still Challenging [UPDATED] - IGN

It sounded like bad news for those who want to get their hands on Valve’s upcoming new hardware. It seemed like the company suggested Steam Machine, Steam Controller, and Steam Frame could potentially be delayed into 2027, but clarified that it still aims to launch all three in 2026.

IGN