Too Long; Didn't Read
Azure IoT Hub is a managed service offered by Microsoft as part of an Azure cloud subscription. It is hosted in the cloud and acts as a central message hub for bi-directional communication between your application and the IoT devices it manages. The entire thing is open-source on Github, and there are several additional tools to assist you in building your apps, such as the IoT Edge Dev Tool, an AI toolkit for IoT Edge, an IoT Edge extension for VS Code, and plenty of code samples.