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Photo: Sean Rayford/Getty Images

Tulsi Gabbard announced Thursday that she will suspend her 2020 Democratic presidential campaign and endorsed Joe Biden.

The state of play: While she was one of the final three candidates left in the race, alongside Biden and Bernie Sanders, the Hawaii congresswoman failed to gain traction in any primary and hadn't qualified for a debate since last year.

  • She did pick up two delegates in the caucuses in American Samoa, where she was born.

What she's saying: "I know Vice President Biden and his wife and am grateful to have called his son Beau, who also served in the National Guard, a friend. Although I may not agree with the vice president on every issue, I know that he has a good heart and is motivated by his love for our country and the American people," she said in a campaign email.

  • "I'm confident that he will lead our country guided by the spirit of aloha — respect and compassion — and thus help heal the divisiveness that has been tearing our country apart."
  • "Today, I’m suspending my presidential campaign, and offering my full support to Vice President Joe Biden in his quest to bring our country together."

Worth noting: In February 2016, Gabbard quit as vice chair of the Democratic National Committee in order to endorse Bernie Sanders over Hillary Clinton.

The big picture: An Iraq War veteran and member of the Hawaii Army National Guard, she entered the race with a complicated record, especially on foreign policy, and had long been a favorite of fringe voices on the right, who often amplified her comments via social media.

  • She met with President Trump during his transition and joined Republicans in promoting the use of the phrase "radical Islam."
  • A secret trip to meet with Syrian President Bashar al-Assad in January 2017 resulted in further backlash against Gabbard, who dubbed the trip a "fact-finding" mission.
  • She later voted "present" on Trump's impeachment in December, going against the overwhelming majority in her party.

Flashback: Gabbard made waves after Hillary Clinton suggested that she was a "favorite of the Russians."

  • Several of Gabbard's fellow 2020 competitors came to her defense, as did Trump.

Go deeper: 2020 presidential election: Track which candidates are running

Go deeper

U.S. economy grew at a 6.5% rate last quarter, missing expectations

Contractors work on a home under construction. (Photo: Micah Green/Bloomberg via Getty Images)

The U.S. economy grew at an annualized 6.5% rate last quarter, the government said Thursday.

Why it matters: It's a slower pace of growth than the 8.4% that forecasters expected, with the economy reopening, vaccines rolling out and government aid rolling in. But the economy has officially recovered from its pandemic-induced plunge.

Updated 2 hours ago - Sports

Olympics dashboard

Team USA's Simone Biles during the women's team final on day four of the Tokyo 2020 Olympic Games at Ariake Gymnastics Centre on Tuesday in Japan. Photo: Fred Lee/Getty Images

🤸🏾‍♀️: Simone Biles reacts to "love and support" after withdrawing from all-around gymnastics and team finals, citing her mental health

🏃: U.S. pole vaulter Sam Kendricks withdraws from Games after positive coronavirus test

🏊‍♂️: Caeleb Dressel wins gold in men's 100m freestyle —Bobby Finke wins gold in first men's Olympic 800m freestyle

📷: In photos: Tokyo Olympics day 6 highlights

🗓: The Olympic events to watch today

💵: Olympic athletes see more sponsorship opportunities

🏃‍: Female Olympians push back against double standard in uniforms

Go deeper: Full Axios coverage - Medal tracker

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Giant earnings growth for the world's largest companies

Illustration: Aïda Amer/Axios

Never in the history of capitalism have the world's biggest companies grown as fast as the tech giants in recent years.

Why it matters: A series of stunning earnings reports this week — with another one likely to arrive Thursday afternoon, from Amazon — has underscored the astonishing growth among a group of companies that were already some of the most profitable of all time.