OnLive was the first company to offer cloud gaming, meaning that your games were rendered and streamed from one central server. Your save games, settings, etc would all be stored on that server and you could access your gaming from everywhere on almost any computer system, all you needed was a proper internet connection.
This time they are teaming up with Valve. There is currently a (closed)beta test running for Steam users. When this beta ends and when it will be available for every user is unclear at the moment. The idea is to have a subscription plan for your Steam games, so that the Steam games that you have purchased can be streamed to wherever you are and whatever device you are on, this service is currently set at a monthly subscription of $14,99 a month, and requires you to have purchased the game you want to play (unlike their streaming netflix like streaming service).
Currently there are twenty titles available that support this;
Batman: Arkham Asylum GOTY, Batman: Arkham City GOTY, Batman: Arkham Origins, Darksiders II, Dead Island GOTY, Dead Island: Riptide, LEGO The Lord of the Rings, Metro 2033, Mortal Kombat Komplete Edition, MX vs. ATV Reflex, Painkiller: Hell and Damnation, Red Faction: Armageddon, Saints Row IV, Scribblenauts Unlimited, Strike Suit Zero, The Book of Unwritten Tales: The Critter Chronicles, The LEGO Movie Videogame, The Raven: Legacy of a Master Thief, Truck Racer, Type: Rider.
As you can see there are quite a few major titles missing, but OnLive has said that more will follow. Unlike before they now don't need to modify the gamecode to be able to stream games to your computer, which apparently was an issue for some publishers.
NetLive & OnLive Go
OnLive will also continue to offer their stream/netflix'ish gaming catalog. For $9,99 a month you get access to 250 older game titles, ready for you to play without having to purchase them. They are also introducing their new service 'OnLive Go'. This might be something interesting for MMO's players and hopefully future MMO publishers. That service is aimed at letting you play/test the MMO without having to download the massive amount of data that usually comes with a mmo. So play instantly, no need to wait.