Inspiration

across the universe

Jai can be translated as "I give hope to", or "I give thanks to", but was used more often to mean "Victory" or "Heart".
Guru

Guru can be translated as "Teacher" or "Spiritual Leader", but it also means "God" or "Brahma".
Deva

Deva is translated as Divine, it is where the English word Divinity comes from, it can also mean diety or God/brahma.
Om

Om cannot be translated as a single English word. It is used as the most sacred word in Indian thought. It represents the birth, growth, and death of the Cosmos. It is also the Vibration/sound of the Cosmos literally; If you could step outside the Universe and listen to it, that is what you would hear.
So, understanding the context that this phrase derives from, one translation would be:

I give thanks to the Divine Teacher: OM

Retrieved from "http://en.wikipedia.org/wiki/Jai_guru_de_va_om

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