We present the first results from a 500 ks Chandra ACIS-I observation of M87. At soft energies (0.5Y1.0 keV), we detect filamentary structures associated with the eastern and southwestern X-ray and radio arms. Many filaments are spatially resolved with widths of $300 pc. This filamentary structure is particularly striking in the eastern arm, where we suggest the filaments are outer edges of a series of plasma-filled, buoyant bubbles whose ages differ by $6 ; 10 6 yr. These X-ray structures may be influenced by magnetic filamentation. At hard energies (3.5Y7.5 keV), we detect a nearly circular ring of outer radius 2.8 0 (13 kpc), which provides an unambiguous signature of a weak shock, driven by an outburst from the supermassive black hole (SMBH ). The density rise in the shock is shock / 0 % 1:3 (Mach number, M % 1:2). The observed spectral hardening in the ring corresponds to a temperature rise T shock /T 0 % 1:2, or M % 1:2, in agreement with the Mach number derived independently from the gas density. Thus, for the first time, we detect gas temperature and density jumps associated with a classical shock in the atmosphere around a SMBH. We also detect two additional surface brightness edges and pressure enhancements at radii of $0.6 0 and $1 0 . The $0.6 0 feature may be overpressurized thermal gas surrounding the relativistic plasma in the radio cocoon, the ''piston,'' produced by the current episode of AGN activity. The overpressurized gas is surrounded by a cool gas shell. The $1 0 feature may be an additional weak shock from a secondary outburst. In an earlier episode, the piston was responsible for driving the 2.8 0 shock.