Ultrafast lasers, which generate optical pulses in the picosecond and femtosecond range, have progressed over the past decade from complicated and specialized laboratory systems to compact, reliable instruments. Semiconductor lasers for optical pumping and fast optical saturable absorbers, based on either semiconductor devices or the optical nonlinear Kerr effect, have dramatically improved these lasers and opened up new frontiers for applications with extremely short temporal resolution (much smaller than 10 fs), extremely high peak optical intensities (greater than 10 TW/cm2) and extremely fast pulse repetition rates (greater than 100 GHz).