It is rumored that Microsoft will officially announce DirectX 11 at the Gamefest 2008 game conference which takes place on July 22-23 in Seattle, Washington.
The big feature of DirectX 11 is Tessellation/Displacement while we also heard that Multithreaded Rendering and Compute Shaders are part of it. DirectX 11 also brings Shader model 5.0 but we don