NVIDIA says they will be embracing the upcoming Miracast Wireless Display standard with their mobile Tegra 3 chipset, and are actively working with other vendors and OEMs to bring this technology to market once the Wifi alliance gets all the details worked out. What we're talking about here is an open standard and method of sharing what you see on your screen, with any other screen that supports the new technology. Things like televisions, computer monitors, tablets, and even smartphones should be able to instantly, and wirelessly, share screen output. Playing Shadowgun THD is fun, but playing it on your 42-inch TV is even more fun, and of course full-length HD movies just scream for thi type of tech.
NVIDIA will be optimizing the experience by using the existing Tegra 3 architecture and new industry standard Miracast stack to process and accelerate content, then transmit it via a device's Wifi chipset as an H.264 bitstream. In practice, it should work much like current offerings from Intel or HTC's Media Link dongle package, but using an open standard. Open is good, as it allows other vendors to use and enhance things as well. More bright minds at work means more and better features and scalability.
NVIDIA expects the standard to be ratified by the Wifi alliance within the next few months, and will release more information once that happens. There will be new hardware involved, but it's possible that using docks and dongles your existing devices and displays could take advantage. Read NVIDIAs whitepaper here, and find more information at the source link. There's also a video after the break that shows a decent overview of the whole thing.