I'm very pleased to announce the construction of the giant Magellan telescope. This is a project that we began in 2003, was a small group of US institutions and has now grown to an international project that includes Australia, Korea, Chile, and most recently Brazil. The next steps as we launch construction of this telescope are to build the mount, the steel mount that will hold the mirrors for the telescope, to build the enclosure, which is a 22-story building that has to rotate to allow you to move to different parts of the sky as you're looking out with the telescope. In astronomy, the size of the telescope is everything. It dictates how much light you collect, how much detail you can see. As it was astronomer, we always want the biggest eye we could get on the sky. It's going to be one of the biggest telescopes in the world. It's many times larger than the biggest telescopes that currently exist. So by combining the large aperture of the telescope and this extra technology, adaptive optics, we can actually see things that are 10 times sharper than the images taken with the Hubble Space Telescope. It's a new epic in the field of astronomy. It's a new epic for cosmology, astrophysics, and the history of the universe. So we'll be able to see things further in fainter than anyone has ever seen before. It just takes us to that next level of technical capability and these technical elites are what enable new discoveries.