Earlier this year, rumors began circulating about 'Yeti', a game streaming service from Google. Much like Nvidia GeForce NOW and other platforms, it would allow users to play modern games on low-end hardware (because the rendering is done by off-site servers). Kotaku has now confirmed this information, and provided additional details.
According to Kotaku, the streaming platform is still under development, along with hardware designed for the platform. Since streaming games doesn't require powerful hardware (the $40 Steam Link is an example), the product would likely be low-power and inexpensive. Perhaps existing Chromecast models could be updated to work with the service. One person familiar with the project described it as, "Imagine playing The Witcher 3 within a tab on Google Chrome."
It has been proven time and time again that a gaming platform's success relies on the games available for it. Reportedly, Google is not only in talks with major developers and publishers, but the company might buy game studios outright.
At the moment, there's no telling when Yeti will be officially announced. Google usually hosts a hardware event every October, so perhaps we'll hear more then.