There has been some buzz around on the next release of AX codenamed "Rainier" or "Rainer" - I'm not sure on the correct codename.
I'm not able to find this particular link anymore but here are some of the striking points which I had noted down from the original poster.
a. Cloud Based Solutions
b. Platform independence - Browser enabled clients
c. AD Federation and more integration with Azure
d. More investments on Visual Studio (Development Environment will be VS)
e. Application Development targetting any OS through Rainier
f. No longer need to invest on Sharepoint hosting as Enterprise portal will be eliminated
g. 3 key pillars - New client, Cloud Readiness, New Development Stack Microsoft Dynamics AX
h. No RPC based communication (Atleast, now it's assured that the event logs won't get full by RPC errors which was the case with AX 2009)
i. Programming language will still be X++ but everything will be .net compiled
j. Capability to expose updatable views using OData
k. HTML 5 based Web Client so more faster and richer experience
So, all looks exciting for the next major release of Dynamics AX which would be somewhere in end of 2014 or early 2015!