Simple ICs made from non silicon semiconductors like specialized germanium or gallium based RF device see in to the 10s and even 100s of GHz, parts used in radar amplifiers etc... For extremely complex devices like CPUs and GPU on silicon, short answer no. Mid 5Ghz is likely the upper limit on the very best silicon tech, physics basically determines that silicon is only good up to those points.
CPUs have slowed down due to lack of competition and stagnation. Intel have done jack all since about 2010, only the minimal effort and AMD were almost non existent during that period. AMD have come out of the blue and not only caught up but have already taken over in enterprise and will continue to pull ahead and not long before the same happens in desktop. Progress is not dead yet and I think the last 2 years and the future is bright once again.
GPU progress never slowed down really, only CPUs due to the absence of competition. We are now seeing a little bit of this in GPUs for the same reason but I think that is short lived.
When you compare transistor count and overall performance it is clear that is where the gains are coming from, clock speeds only make a minor contributor in overall performance improvements, the clock speed race ended in the early 2000s, it's been all architecture and complexity ever since, as they say CPUs have gone short and wide in the pipelines and paralleled.
As for Intel, they have had almost no gains left in IPC now that can make from this design and this is why you see them pushing and pushing at the clock speeds as they have no other major place to gain anything from. They need to wipe the slate clean and start again to have a chance keeping up in the future I think. I do believe the 9900k will be the last hurrah for this architecture. They are at the limits of the 14nm node, at the limits of the ring bus layout (only scales to about 8 cores with gains) and the thermal limits (soldered this time to be able to get those clock targets and not melt) TDP at the limits.
It will be a great chip for sure but likely the fastest they will get out of this design for a desktop type of CPU.