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From CNET News:
Revenge of the nerd glasses! The search giant is said to be creating eyewear that would tap into the cloud to display details about the wearer's surroundings. Similar in concept to the glasses worn by Arnold Schwarzenegger in the "Terminator" movies, the high-tech specs purportedly would tap into Google's cloud-based location services to convey details about the user's surroundings. The visual information would then appear as a 3D augmented reality computer display.
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