13. A non-transitory computer-readable storage medium having computer-executable instructions, the computer-executable instructions when installed onto a computing device enable the computing device to perform actions, comprising: receiving a plurality of documents within a given time window from a stream of documents; partitioning the received plurality of documents into groups of documents having a determined maximum dissimilarity of content within each group, the dissimilarity being between the documents within a given group; distributing the groups of documents across a plurality of other network devices including the network device, wherein each of the other network devices and the network device apply to the plurality of documents a modified sequitur algorithm to identify a respective plurality of common phrases, wherein modifications to the modified sequitur algorithm include using an array instead of a doubly-linked list to represent text, marking a diagram using an indexed array to indicate which position in an original sequence of characters is a start or an end of a non-terminal rule, rather than physically replacing the diagram with a non-terminal rule, and encoding frequent phrases or rules as state machines wherein the state machines are used to chain the identified rules for the identified phrases; receiving from each of the other network devices the respective plurality of common phrases to obtain identified plurality of common phrases; selecting from the identified plurality of common phrases a plurality of phrases as trending topic phrases for at least the given time window; generating at least one link to at least one of the plurality of documents have content associated with one of the trending topic phrases; and displaying the trending topic phrases and the at least one link.
13. A non-transitory computer-readable storage medium having computer-executable instructions, the computer-executable instructions when installed onto a computing device enable the computing device to perform actions, comprising: receiving a plurality of documents within a given time window from a stream of documents; partitioning the received plurality of documents into groups of documents having a determined maximum dissimilarity of content within each group, the dissimilarity being between the documents within a given group; distributing the groups of documents across a plurality of other network devices including the network device, wherein each of the other network devices and the network device apply to the plurality of documents a modified sequitur algorithm to identify a respective plurality of common phrases, wherein modifications to the modified sequitur algorithm include using an array instead of a doubly-linked list to represent text, marking a diagram using an indexed array to indicate which position in an original sequence of characters is a start or an end of a non-terminal rule, rather than physically replacing the diagram with a non-terminal rule, and encoding frequent phrases or rules as state machines wherein the state machines are used to chain the identified rules for the identified phrases; receiving from each of the other network devices the respective plurality of common phrases to obtain identified plurality of common phrases; selecting from the identified plurality of common phrases a plurality of phrases as trending topic phrases for at least the given time window; generating at least one link to at least one of the plurality of documents have content associated with one of the trending topic phrases; and displaying the trending topic phrases and the at least one link. 15. The non-transitory computer-readable storage medium of claim 13 , wherein selecting from the identified plurality of common phrases, further comprises: removing any phrases from the identified plurality of common phrases that is determined to have an extraneous co-occurrence of terms within the phrase based on a t-test test analysis.