Valve has "games in development that we're going to be announcing," says Gabe Newell

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.