Is Microsoft Exchange being phased out?

Excuse me, but could you clarify if there's any truth to the rumor that Microsoft Exchange is being phased out? It's a platform that many businesses rely on for their email and calendar services, so I'm sure many would be curious to know if this is the case. Are there any official announcements or plans from Microsoft that suggest a change in direction for this service? If so, what might be the reasons behind such a decision, and what alternatives might be available for those who currently use Microsoft Exchange?