Microsoft is launching a new streaming service, currently codenamed xCloud, in public trials this October. The company has now shown off more of how it works and talked about the service at a high level. xCloud, or whatever name Microsoft ends up giving it, allows you to stream high-end games to your phone or presumably a variety of other internet-connected devices.
Source: N4G PC The Xbox Streaming Service Puts 8 Xbox Ones In A Single Rack, See What It Looks Like