The CCAT Observatory is building the Fred Young Submillimeter Telescope, a novel, high-throughput, 6-meter aperture telescope, to enable a wide range of new measurements. The science goals include: understanding galaxy formation through line-intensity mapping of cosmic reionization, measuring the Milky Way for galactic science and to characterize cosmic microwave background (CMB) foregrounds, detecting astronomical transients, and more. The Observatory is nearly complete at 5600 meters on Cerro Chajnantor, Chile. The complementarity of CCAT and CMB observatories will be highlighted and recent results from the Atacama Cosmology Telescope will be presented. CCAT will make the most sensitive submillimeter measurements over a broad range of scales with its first high-throughput science receiver: Prime-Cam. This camera is designed to support over 10^5 kinetic inductance detectors and enable over 10x faster mapping speed than previous submillimeter observatories from 0.3 – 1.1 mm (280 – 850 GHz). We describe the project and instrument status, plans for early science observations starting in 2026, and possible future line-intensity mapping upgrades to probe cosmology.