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Valve's Steam Machine, a small cube-shaped living-room PC console, shown in its product render.

Valve's Steam Machine starts at $1,049, not the $750 it planned. The RAM shortage ate the difference.

Valve's living-room console launches at $1,049 to $1,428. Here's what's inside, why the price ballooned, and how SteamOS lets you skip the hardware entirely.