Biden campaign raises $26 million in 24 hours after announcing Harris as running mate

Joe Biden's campaign announced on Wednesday that it raised $26 million in the 24 hours after revealing Sen. Kamala Harris as his vice presidential pick.

Why it matters: The cash influx signals that Harris has helped the Democratic presidential campaign pick up steam. Nearly 150,000 contributors were first-time donors, according to the campaign statement.

The state of play: The Trump campaign said in a statement it surpassed the billion-dollar threshold with a cycle haul of $1.1 billion to date.

• The Biden campaign, the Democratic National Committee and their joint fundraising committees, announced they raised $140 million in July, with $294 million on hand — a $50 million increase over the past month.
• Yes, but: Biden out-raised Trump in May and June.

Go deeper: Joe Biden has "best grassroots fundraising day ever" after announcing Kamala Harris as VP pick