Does revealing a card change the zone of that card?

Revealing a card does not change its zone; it remains in the same location it was before being revealed. According to the rules of Magic: The Gathering, revealing a card simply grants all players visibility of the card while it still exists in its current zone, whether that is a player's hand, library, or any other zone.

Once a card is revealed, it continues to adhere to the rules that govern its current zone, thus maintaining its state and position without being moved elsewhere. For example, if a card is revealed from a player's hand, it stays in the hand; if it is revealed from the library, it remains in the library. This keeps gameplay consistent and avoids confusion about the state of the cards during play.

The other choices imply that revealing a card causes it to be sent to different zones, such as the graveyard, exile, or back to the library, which does not align with the established rules regarding card revelation.