NVIDIA's new portable gaming project is codenamed "Project SHIELD" and is self-described as "a gaming portable for open platforms, designed for gamers who yearn to play when, where and how they want."
Project SHIELD can play both Android and Windows PC titles while being a pure Google Android device. The device supports streaming video games from PCs while doing remotely offloaded graphics rendering for systems with NVIDIA GeForce GTX GPUs.
The initial Project SHIELD device has a "console-grade controller", a 5-inch 1280x720 HD display, high-quality speakers, and is built around their Tegra 4 "Wayne" SoC.
More details on NVIDIA's Project SHIELD can be found from the press release and their product site for this portable hand-held PC gaming device.