Valve never caves and Nintendo doesn't relent. As the two gaming behemoths collided because of the planned release of Dolphin, a popular open-source emulator for GameCube and Wii games, on Steam, Nintendo got a big "W". All it took was a cease-and-desist order from the Japanese gaming giant, claiming the emulator violates the company's intellectual property rights under the Digital Millennium Copyright Act (DMCA).
Although if we're being technical, it wasn't Valve that lost. Rather, it was the team behind the Dolphin emulator.
Here's an excerpt from the official announcement on the company's website: We were notified by Valve that Nintendo has issued a cease and desist citing the DMCA against Dolphin's Steam page, and have removed Dolphin from Steam until the matter is settled. We are currently investigating our options and will have a more in-depth response in the near future. We appreciate your patience in the meantime. The main point of the DMCA is stop people from making illegal copies of games, which Nintendo is very much in the right of doing so.
The Dolphin team planned to release the emulator on Steam within this quarter but it's indefinitely postponed due to Nintendo's DMCA notice, which is why its Steam page is no longer up.