It's probably just a major update for Windows 10, not a new version.
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On June 24th, Microsoft will host a special event during which they will show off the "next generation of Windows."

Now, before you go freaking out and thinking that they're coming out with Windows 11 or something like that, just relax. Microsoft said a while back that Windows 10 was the last version of Windows that they will release. Yes, this could have changed in the six years since they made this announcement, but there's no reason to assume that's the case right now.

No, instead when Microsoft references the "next generation of Windows" they are talking about some major updates coming to Windows 10 as we know it.

The event on June 24 will begin at 11AM (PT) and will feature Microsoft CEO Satya Nadella and chief product officer Panos Panay doing a joint presentation. It's not clear yet exactly what Microsoft will show off here, but it is expected that we will at least see a new user interface. Rumor has it that Microsoft will implement some visual elements from the now cancelled Windows 10X. Windows 10X was a lightweight version of Windows that Microsoft was developing for dual-screen devices before they officially canned the project this past May.

There have been some rumors shared by Windows Central. They say that the UI refresh is codenamed Sun Valley. At least one of the big changes is the move to rounded corners. There may also be a redesigned Start menu layout. These are just a couple of rumors amongst several that were shared.