A verbose wired article as per link above speaks of the ‘Internet cloud’. It can be summarised as
The desktop is dead. Welcome to the Internet cloud, where massive facilities across the globe will store all the data you’ll ever use. George Gilder on the dawning of the petabyte age.
The key point is: this architecture is very relevent for mobile browsing applications. It can be used to overcome some of the limitations of browsing applications. The principle is the same as ‘caching’ data but not on a device. Historically, it has been used in application servers such as BEA Tuxedo and even earlier with IBM CICS.
I am watching this space with some interest