We show that for all functions $t(n) \geq n$, every multitape Turing machine running in time $t$ can be simulated in space only $O(\sqrt{t \log t})$. This is a substantial improvement over Hopcroft, Paul, and Valiant's simulation of time $t$ in $O(t/\log t)$ space from 50 years ago [FOCS 1975, ... more >>>