Today is the unveiling of Microsoft Dynamics 365 for Operations which is where you will find the functionality and capabilities from the AX product. If you have being using AX7 then in the upcoming fall release you will pick up the new name and capabilities.
Satya posted a blog post that you can read here that paints the direction of Dynamics and the introduction of Microsoft Dynamics 365. If you want to read more you can visit this link.
I thought I’d do a quick visual on the product but will cover the functionality deeper in time through upcoming posts.