Google already has two operating systems in Chrome OS and Android, and it looks like there's a third in the works. It's called Fuchsia, and by current appearances, it looks like it will run on just about anything.
Fuchsia is built on Linux, which has been running Google's hardware for quite some time now, and the company is building it in the public eye -- it's already live on GitHub. The description is simply "Pink + Purple == Fuchsia (a new Operating System)." Take that for what you will.
So what is Fuchsia for, anyway? Your guess is as good as mine. It could be the merger of Chrome OS and Android that was hinted at last year in an article from the Wall Street Journal. Many would welcome this, I'm sure. Some of my colleagues think it's about time that Google kills Chrome OS.
The Verge and Android Police dug into the code and found that it's built on a kernel that is often meant for computers with very specialized functions: think Chromecast. In theory, Fuchsia should have the scale to run on anything from a TV streamer to a smartwatch to a television.
It's also possible that this is an experiment and nothing else, or that the three operating systems will all coexist. For now, all we can do is speculate.