Dream about the stars. You never know, you might receive a Nobel Prize for it one day. This year's Nobel Prize in Physics laureates were awarded due to their lasting contributions to the fields of astronomy, astrophysics, and cosmology.

Half of the Nobel Prize in Physics was awarded to James Peebles, currently the Albert Einstein Professor of Science, Emeritus, at Princeton. His work on physical cosmology, developed over a lifetime, has helped shape our understanding of how the universe originated and how it continually evolves today.

Physical cosmology concerns itself with the big questions: How was the universe created? How does it change over time? What is its final destination? Peebles' work has been instrumental in the development of the Big Bang model, particularly in cosmic microwave background radiation (CMBR). Often called "relic radiation," CMBR is the remnant of the early stages of the universe's formation, making it one of the oldest sources of electromagnetic radiation in the universe.

Peebles also made significant contributions to our understanding of dark matter and dark energy, which have yet to be directly observed (but we know is there) and a fundamental part of the inner workings of the universe. 

From his work on CMBR and dark matter & energy, we are now able to have a much deeper understanding of how galaxies and other cosmic structures were formed in their earliest days.

With his life's work, Peebles has transformed the field of cosmology. His Shaw Prize in 2004 reads,

"He laid the foundations for almost all modern investigations in cosmology, both theoretical and observational, transforming a highly speculative field into a precision science."

The other half of the Nobel Prize goes to Swiss astronomers Michel Mayor and Didier Queloz for their work on exoplanets and their discovery of 51 Pegasi b, officially known as Dimidium.

Until 1995, exoplanets—planetary masses found outside our solar system—were all found to orbit pulsars, small but dense cores of stars that have collapsed on themselves. This all changed when Mayor and Queloz discovered 51 Pegasi b through small movements in its parent star, suggesting gravitational pulls from another massive object. Instead of orbiting a pulsar, they were able to find an exoplanet orbiting a long-lived star much like our own Sun.

The formation of gas giants like Jupiter and Neptune are thought to have been possible only in cold environments far away from stars. Dimidium is a rare exception: it's more than ten times closer to its star than Mercury is to our Sun (keep in mind that temperature on Mercury can reach up to 427°C).

Several more gas giant exoplanets like Dimidium have since been found, but Dimidium's discovery has paved the way for stimulating interest in the field. With 4118 exoplanets in 3063 planetary systems detected to date, the impact that Mayor and Queloz have created on the field is remarkable and further validates that worlds and life like our own may not be so far-fetched.

Peebles will receive one half of the award's prize money, 9 million SEK (around 900,000 USD), while Mayor and Queloz split their share of the 9 million SEK.