Ubuntu 9.10 is codenamed Karmic Koala. The developers plan to bring cloud capabilities to Ubuntu’s server edition, boost startup performance on the desktop, and continue work on the distro’s netbook flavor.

Usually Ubuntu releases are every 6 months with the new update. The next major release—version 9.04, codenamed Jaunty Jackalope—is moving towards feature freeze and is scheduled for launch in April. Ubuntu 9.10, which will be the next release after Jaunty, is planned for October.
On the desktop, boot performance and beautification will be an area of focus. The target boot time for Jaunty is 25 seconds. Sounds amazing for Ubuntu as compared to the present version. The developers would also explore ways to bring a smoother, flicker-free startup animation. If you have used Red Hat, i suppose, it would be similar to that. More news regarding the Karmic and Jaunty release would be done inUbuntu Developer Summit (UDS) in May at Barcelona.