Microsoft Announces Pylance

Pylance is a new, performant, feature-rich language server for Python in VS Code.

Microsoft announced Pylance, which is a new language server for Python that makes use of the Language Server Protocol to communicate with VS Code.
Microsoft said that it has created Pylance as a brand-new language server based on Microsoft’s Pyright static type checking tool. The solution leverages type stubs (.pyi files) and lazy type inferencing to offer a highly-performant development experience.
Earlier, in 2018, Microsoft's Python team had released the Python Language Server, bringing Visual Studio’s rich Python IntelliSense support to VS Code. Microsoft said that in the past several months, it has made updates to make the language server more performant and empower developers to write their best code, and the outcome of this work is the new Pylance language server.
Some of the key features that Pylance offers include Type Information, Auto-Imports, Type Checking Diagnostics, and Multi-Root Workspace Support.
You will get type information that is now available in function signatures and when hovering on symbols. It provides helpful information to ensure that you are correctly invoking functions, to improve the quality of the code you write.
Pylance also brings Auto-imports (one of our most requested features) that gives you smart import suggestions in your completions list for installed and standard library modules.
Pylance also allows you to open multiple folders in the same VS Code session and have Pylance functionality in each folder.
According to the company, the new Pylance extension is complementary to the Python extension for VS Code. Those who have the Python extension already installed can try out Pylance by downloading the extension straight from the VS Code marketplace. If you are not already using the Python extension in VS Code, installing Pylance will fetch that extension as well.