Valve has games in active development, according to boss Gabe Newell.
Speaking with TVNZ, Newell confirmed that "we definitely have games in development that we're going to be announcing – it's fun to ship games. [Half-Life: Alyx] was great – to be back doing single-player games, that created a lot of momentum inside of the company to do more of that."
Valve has made similar statements before, hinting in 2020 that Half-Life: Alyx would not be the end of the Half-Life franchise. And as early as 2019, Valve suggested that Alyx could kick off a whole new wave of Half-Life games.
"It’s probably no surprise that many people at Valve have been wanting to get back to the Half-Life universe for a long time, and this experience has only reinforced that," Valve programmer David Speyrer said at the time. "In the process of creating Half-Life: Alyx, we’ve had to explore new ways to tell stories with these characters and this world, and we’ve discovered a lot of new gameplay experiences that go beyond what we’ve been able to do before. Of course, we’ll have to wait and see how people react to Half-Life: Alyx once it’s out, but we’d love to continue pushing forward."
However, while Valve is conceivably working on some sort of Half-Life game, Newell didn't offer any specifics – and characteristically dismissed Half-Life 3 and Portal 3 as "moot questions." He also brushed off an inquiry about a rumored project code-named Citadel, which predates Alyx.
Canceled Valve projects including Left 4 Dead 3 received new details in a documentary released last year.