Microsoft is building a game streaming service and new Xbox consoles -- The Verge

Also see Microsoft doubles its game development studios and showcases more than 50 games on E3 stage including 18 console launch exclusives and 15 world premieres (Microsoft News Center)

"Microsoft has been teasing it’s working on game streaming from the cloud recently, but today at E3 the company made it official. Phil Spencer, Microsoft’s gaming chief, revealed the company is hard at work building a streaming game service for any device. “Our cloud engineers are building a game streaming network to unlock console gaming on any device,” says Spencer, and the service will work across Xbox, PCs, or phones.

Spencer didn’t give any firm dates on when the service will be available, but he’s previously teased Xbox game streaming within three years. Many have tried and failed to create a game streaming service, and it’s a challenging thing to get right. Sony acquired streaming games service OnLive only to shut it down, and previously acquired Gaikai which eventually became part of its PlayStation Now service. Nvidia is trying to stream games to PCs, but all these existing services will suffer some form of latency that hold them back from being widely used."

Microsoft is building a game streaming service and new Xbox consoles -- The Verge