Microsoft Fabric is a lake-centric architecture that provides a single environment for data professionals and business users to collaborate on data projects. It creates a unified virtual data lake across domains, clouds, and accounts using shortcuts. Fabric uses Spark and SQL engines to process large-scale data and supports ACID transactions through Delta Lake. An explorer enables browsing files, folders, shortcuts, and tables within the Fabric platform. Microsoft has provided a preview and outlined future releases integrating additional capabilities through 2023 and 2024.