Valve has been working on in-home game streaming for years now, allowing you to stream your Steam games from a gaming PC, to any other compatible device in the house. There is even an option to stream to devices not on the same network, turning your PC into a personal cloud gaming server. Looking ahead though, Valve might offer something more expansive, with references to Steam Cloud Gaming popping up.
As found by SteamDB's update tracker, Valve is working on “Steam Cloud Gaming” and giving publishers/developers on Steam a new addendum that they can choose to sign in order to be part of it. Presumably, partners that sign on will agree to have their games accessible through Steam Cloud Gaming, which would use Valve's own server hardware to stream games.
Valve hasn't made any announcements itself yet and we don't know if a Steam Cloud Gaming feature would just give you on-demand access to stream games you already own, or if you'll need to pay for access to use Steam servers to do the job.
Either way though, if Valve could pull something like this off, then it would be good competition to Google Stadia, as you could buy PC games with the option of either playing locally or through streaming, while Stadia has no local play or downloads option for games you purchase.
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KitGuru Says: This is just one small reference so far, but it will be interesting to see if more evidence of Steam Cloud Gaming pops up in the months to come.