There is no limit in theory I think, but in real life. Practically, the highest speed used in today's power generators (as far as I'm aware of) is about 100000 rpm, resulting in 1.6 kHz output frequency with a one pole-pair generator. These are microturbines with air bearings. Flywheel energy storage systems are typically using lower speeds.
As a limitation in theory, centrifugal force is a quadratic function of speed. And existing materials have a limited tensile strength.