ConspectusAtomically precise metal chalcogenide clusters (MCCs) are model molecular compounds of scientifically and technologically important semiconductor nanocrystals, which are known as quantum dots (QDs). The significantly high ambient stability of MCCs of particular sizes, as compared to that of slightly smaller or larger sizes, made them be termed "magic-sized clusters" (MSCs). In other words, MSCs with specific sizes between sizes of precursors (typically, metal-ligand complexes) and nanocrystals (typically, QDs) appear sequentially during the colloidal synthesis of nanocrystals, while the other cluster species decompose to precursor monomers or are consumed during the growth of the nanocrystals. Unlike nanocrystals with an ambiguous atomic-level structure and a substantial size distribution, MSCs possess atomically monodisperse size, composition, and distinct atomic arrangement. Chemical synthesis and exploration of properties of MSCs are of great significance since they help systematically understand the evolution of fundamental properties as well as build structure-activity relationships at distinct molecular levels. Furthermore, MSCs are anticipated to offer atomic-level insights into the growth mechanism of the semiconductor nanocrystals, which is highly desirable in the design of advanced materials with new functions. In this Account, we cover our recent efforts in the advancement of one of the most important stoichiometric CdSe MSCs, (CdSe)13. In particular, we present its molecular structure derived from a single crystal X-ray crystallographic study of the closest MSC, Cd14Se13. The crystal structure of MSC enables not only the understanding of the electronic structure and prediction of the potential sites for heteroatom dopants (e.g., Mn2+ and Co2+) but also the identification of favorable synthetic conditions for the selective synthesis of desired MSCs. Next, we focus on enhancing the photoluminescence quantum yield and stability of Mn2+ doped (CdSe)13 MSCs through their self-assembly, which is facilitated by the rigid diamines. In addition, we show how atomic-level synergistic effects and functional groups of the assemblies of alloy MSCs can be utilized for a highly enhanced catalytic CO2 fixation with epoxides. Benefiting from the intermediate stability, the MSCs are explored as single-source precursors to low-dimensional nanostructures, such as nanoribbons and nanoplatelets, through the controlled transformation. Distinct differences in the outcome of the solid-state and colloidal-state conversion of MSCs suggest the need for careful consideration of the phase and reactivity of MSCs as well as the type of dopant to achieve novel structured multicomponent semiconductors. Finally, we summarize the Account and provide future perspectives on the fundamental and applied scientific research of MSCs.