Nvidia has unveiled its Project Shield gaming device, which is powered by its new Tegra 4 processor.

Project Shield plays both Android and PC games, accessing games on Google Play or streaming games from PCs powered by Nvidia’s GeForce GTX GPUs. It is based on the Tegra 4 chip, which Nvidia called “the world’s fastest mobile processor”, at its unveiling at CES.

“Tegra 4 provides enormous processing power and efficiency to power smartphones and tablets, gaming devices, auto systems and PCs,” said Phil Carmack, senior vice president of the Tegra business at NVIDIA. ”Its new capabilities, particularly in the area of computational photography, will help improve a whole range of existing products and lead to the creation of exciting new ones.”

Project Shield includes Wi-Fi technology and an HD screen, built into a console-style controller. Users can play games either on the integrated screen or on their TV sets.

“Project Shield was created by Nvidia engineers who love to game and imagined a new way to play,” said Jen-Hsun Huang, co-founder and chief executive officer at Nvidia.

“We were inspired by a vision that the rise of mobile and cloud technologies will free us from our boxes, letting us game anywhere, on any screen. We imagined a device that would do for games what the iPod and Kindle have done for music and books, letting us play in a cool new way.”