Pulsar timing arrays (PTAs) will enable the detection of nanohertz gravitational waves (GWs) from a population of supermassive binary black holes (SMBBHs) in the next $\sim 3-7$ years. In addition, PTAs provide a rare opportunity to probe exotic physics. Potential sources of GWs in the nanohertz band include, cosmic strings and cosmic superstrings, inflation and, phase transitions in the early universe. GW observations will also make possible tests of gravitational theories that, by modifying Einstein's theory of general relativity, attempt to explain the origin of cosmic acceleration and reconcile quantum mechanics and gravity, two of the most profound challenges facing fundamental physics today. Finally, PTAs also provide a new means to probe certain dark matter models.