As always with the world of Terrence Malick, nothing is official until the movie is on the screen, so take this bit of news with a grain of salt. But perhaps, if anything, this news indicates that the director's next film is finished.
According to fansite One Big Soul (via The Film Stage), Malick's next, music-scene movie starring Ryan Gosling, Rooney Mara, Michael Fassbender, Natalie Portman and Cate Blanchett is now titled "Weightless." The intel comes from a credit sheet belonging to Supervising Sound Editor/Re-Recording Mixer Joel Dougherty who has both "Knight Of Cups" and "Weightless," credited to Malick, listed. It should be noted that this may be a working title, and Film Nation, the producers of the film, still have it untitled on their website.
Here's the official synopsis:
The film follows two intersecting love triangles.
It is a story of sexual obsession and betrayal set against the music scene in Austin, Texas.
Of course, for those wanting to make easy jokes at Malick's expense, "Weightless" is a pretty easy target. For the rest of us, we're just hoping it shows up at Cannes.
Update 3.28.15: Joel Dougherty's credit sheet has been amended and the Malick film now goes back to being "Untitled." It's very possible this is producers just forcing him to do so because they haven't officially unveiled their title.