(CNN) The Nobel Prize in Physics has been jointly awarded to James Peebles, Michel Mayor and Didier Queloz for their work in furthering our understanding of the universe.

In a ceremony in Stockholm on Tuesday, one half of the prize was awarded to Peebles for "theoretical discoveries in physical cosmology," and the other half to Mayor and Queloz for "the discovery of an exoplanet orbiting a solar-type star."

"This year's Nobel Prize in Physics rewards new understanding of the universe's structure and history, and the first discovery of a planet orbiting a solar-type star outside our solar system," tweeted the Nobel committee.

"The discoveries have forever changed our conceptions of the world."

2019 #NobelPrize laureate James Peebles took on the cosmos, with its billions of galaxies and galaxy clusters. His theoretical framework, developed over two decades, is the foundation of our modern understanding of the universe's history, from the Big Bang to the present day. pic.twitter.com/fly4alndv9 — The Nobel Prize (@NobelPrize) October 8, 2019

Half of the 9 million Swedish krona ($910,000) prize will be given to Peebles, while Mayor and Queloz will split the rest.

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