Microsoft is releasing details of upcoming features and software tools in a Windows 10 update. Also expected is a new, Surface-branded computer. We'll be updating this post through the day.

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Here’s what is happening at Microsoft’s Windows 10 event in New York:

  • The event kicks off at 10 a.m. in New York City. (7 a.m. locally)
  • Microsoft hasn’t said what the event will feature, but Microsoft watchers have speculated about a new, Surface-branded computer and software tools designed to take advantage of the Windows 10 operating system.
  • Analysts are expecting a more focused event than last year’s hardware extravaganza, which introduced a new laptop, tablet, smartphones and a wearable health tracker.
  • Since then, Microsoft has shed most of the phone hardware staff acquired from Nokia, indicated it was likely killing the health band, and emphasized a move toward its roots as a builder of software that powers devices built by other companies.
  • A live webcast is available here.

Update, 9:29 a.m.

Microsoft’s “but wait, there’s more,” moment that wrapped up its show here highlights a bold ambition for the company’s Surface Studio: to transform the desktop again.

The device can lie nearly horizontal, transforming from a desktop computer to a 28-inch tabletop canvas for digital pen and other touchscreen input. A Surface Dial companion tool, sort of an oversized oven knob, can be used to roll back pen strokes, zoom in and out or change color input.

Starting at $2,999, and available in limited quantities “this holiday,” the Surface Studio isn’t for everybody.

But it does focus on a particular, high-end audience: designers, animators, and other creative types.

Microsoft Chief Executive Satya Nadella took the stage at the end of the show, saying the technology developments of the last 10 years have emphasized consumption. The next decade, he says, will be defined by new forms of content production.

Update, 8:33 a.m.

Microsoft is aiming at the high end of the computer market again with its latest hardware, introducing the Surface Studio, an all-in-one personal computer.

The device, which lives in the same category as Apple’s iMac line, is the latest challenge Microsoft has made to Apple’s success in pricey devices aimed at professionals and creative types, following the Surface tablet line and last year’s introduction of the Surface Book laptop and its detachable screen.

Surface Studio has a 28-inch touchscreen. A slim box at the base holds a quad-core i7 processor and a 2 terabyte hard drive.

“We built it for creators, we built it for professionals,” Panos Panay, Microsoft’s devices chief, said. “It’s meant to transform the way you work, it has to, that’s what it is meant for.”

Panay also introduced the Surface Book i7, an updated version of the laptop introduced last year that packs what Microsoft says is more powerful graphics capability and 16 hours of battery life.

Update, 8:08 a.m.

Microsoft, which missed much of the boom in social networking over the past decade, is trying to make Windows more social.

Among the coming features for Windows 10 PCs is a people bar designed to allow for quicker sharing of photos and other content with the people you’re most often in touch with. The bar manifests as a set of faces in the bottom right corner of the desktop, and with a couple of clicks, can bring up Skype and email messaging history or share new content.

“Over the last decade we have seen an incredible explosion of ways to connect with people,” Microsoft’s Allison O’Mahony said. Unmentioned was Facebook, the giant Microsoft once tried to buy for $24 billion.

Also unmentioned: Microsoft’s $26.2 billion deal to buy LinkedIn and get a stronger grasp on the professional social networking world.

Update, 7:47 a.m.

Microsoft is diving into virtual reality.

Next year’s update for Windows 10 will include support for 3-D experiences, including virtual reality. The company has brought some partners along for the ride, promising new, “affordable” virtual reality accessories tailored for Windows and built by HP, Dell, Lenovo, Asus, and Acer.

Microsoft says the cheapest of those coming devices will start at $299, cheaper than the new generation of high-end VR devices, including Facebook’s $599 Oculus Rift and the HTC and Valve-built $799 Vive. (The high-end universe also includes Microsoft’s HoloLens, an augmented reality headset that costs $3,000)

“Powerful and affordable virtual reality is coming to everyone,” Microsoft’s Terry Myerson said.

Update, 7:25 a.m.

Windows 10 users can expect another update early next year, Windows and Devices chief Terry Myerson said in kicking off the event. Dubbed the “Creators Update,” the new set of features will be rolled out for free to the more than 400 million users of the operating system, and include bells and whistles designed for creative types, including a Paint 3D, a refreshed version of Microsoft’s decades-old graphics editor.

In a demonstration, the company showed off a tool designed to scan and create digital models of real-life objects in three dimensions.

As part of a push to make Windows seem cuddlier, Microsoft has started slapping marketing terms on sets of feature updates to Windows. An update that rolled out earlier this year was called the “Anniversary Update.”

Update, 6:52 a.m.

We’re all set inside an event space in lower Manhattan, in a room full of a maybe couple hundred analysts, journalists, invited Microsoft fans. A few executives from Microsoft’s Windows and Devices group have wandered through, too. The event is scheduled to kick off in a few minutes.