Cosmic Explorer is a concept for a new laser interferometric observatory in the United States to extend ground-based gravitational-wave astrophysics into the coming decades. Aiming to begin operation in the 2030s, Cosmic Explorer will extend current and future detector technologies to a 40 km interferometric baseline—ten times larger than the LIGO observatories. Operating as part of a global gravitational-wave observatory network, Cosmic Explorer will have a cosmological reach, detecting black holes and neutron stars back to the times of earliest star formation. It will observe nearby binary collisions with enough precision to reveal details of the dynamics of the ultradense matter in neutron stars and to test the general-relativistic model of black holes.