This is the best summary I could come up with:

Well, remember that recent Microsoft leak that showed off a bunch of potential game releases?

In an email from Phil Spencer spotted by The Verge, there was talk about their plans including wanting to buy up the likes of Nintendo and even Valve with Spencer noting "But our BoD has seen the full writeup on Nintendo (and Valve) and they are fully supportive on either if opportunity arises as am I" (BoD being Board of Directors).

Not that Valve has any need at all to sell, they pretty much print money thanks to their 30% cut from most developers on Steam.

If the above ever were to happen, it's not really likely they would continue all of Valve's big investments into Linux given how even with the Steam Deck the market is small.

After all, Valve put all these resources into Linux because they don't want to be entirely at the whims of Microsoft for their store, and Valve clearly want their own platform so Linux with Proton + Steam Deck is key to that.

So, Microsoft, please continue to keep your filthy hands off Valve (but keep putting your games on Steam okay?

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