VMware just launched Cloud Foundry, which is a PaaS. Platform as a Service. According to the FAQ, there will be three offerings:

• CloudFoundry.com – a complete hosted PaaS environment.
• CloudFoundry.org – an open source cloud.
• CloundFoundry Micro – a downloadable instance to run on the desktop for developers.

The website didn’t contain a lot of details, but The Console, VMware’s Executive Blog breaks it down very well.  I recommend reading it!

I’m excited to see what this will become!