http://www.theverge.com/2012/3/2/2840932/exclusive-valve-steam-box-gaming-console (http://www.theverge.com/2012/3/2/2840932/exclusive-valve-steam-box-gaming-console)
Recently there's been chatter that Valve — the company behind the massively popular gaming service Steam — has been considering getting into the hardware business. Specifically, there have been rumors that the company has been toying with the idea of creating a proper set-top console which could potentially pose a threat to the Xbox 360 and PlayStation 3. Valve co-founder Gabe Newell even recently told Penny Arcade: "Well, if we have to sell hardware we will."
Apparently meetings were held during CES to demo a hand-built version of the device to potential partners. We're told that the basic specs of the Steam Box include a Core i7 CPU, 8GB of RAM, and an NVIDIA GPU. The devices will be able to run any standard PC titles, and will also allow for rival gaming services (like EA's Origin) to be loaded up.
Pretty much, there's rumors that Valve is making a console that will run steam games.