It may sound oxymoronic in that Google went from software to hardware but apparently they are back to software again. This time, on the desktop:
The folks over at the Google Chrome OS team are starting to rethink their approach to the OS and could be expanding into other platforms. The team is posed to start focusing on the approach they take when it comes to windowing. These changes may also apply to the Google Chrome browser and the proposed changes such as eliminating the URL bar that I have previously written about.Source
In addition the Google Chrome OS team is considering hardware acceleration to support and also to consolidate the Chrome UI across different platforms including Windows, Mac and Linux. Also mentioned on the Google Chrome web site is support for OpenGL, Direct 3D and Win 32 as well as other open source support.