According to Industry Gamers, the rumour is sourced from one the most biased sources you can imagine. Gaikai is an outfit which offers a service where high end games can be played over a web browser.
Chief product officer Nanea Reeves has been speaking fairly confidently and specifically, which might mean he knows a thing or two about what is happening.
Reeves claims that at the E3 show, one of the big console makers will close down their shop and walk away. Unfortunately she did not say more than that. Based on her hints it is possible that one or both of the companies has been talking to Gaikai about shifting their games console operations to Gaikai.
It cannot be Nintendo, because it has already announced the Wii U and depends on hardware completely. Neither Microsoft or Sony has officially announced a new console but both have admitted they're working on one.
If one of them was going to walk away from console manufacturing, the smart money would be on Sony. The PS3 has not done nearly as well for it as the PS2 and its online store has been a security nightmare.
Gaikai could be making it up, but the specific prediction about E3 is peculiar and if it's lying then Reeves will have some explaining to do.