UPDATE 3:02 p.m. ET: Several hours after this story's publication, a Cruz campaign spokesperson confirmed to TheBlaze that Cruz will announce that businesswoman Carly Fiorina is his choice for his vice presidential nominee.

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Original story below:

Republican presidential candidate Sen. Ted Cruz (Texas) teased a “major announcement” at a rally in Indianapolis set for Wednesday afternoon — and speculation about the nature of his announcement is running wild.

Following losses in northeastern primary states Tuesday, Cruz told reporters that Indiana “now has the chance to speak.”

“I encourage folks to come join us at 4 p.m.,” Cruz said.

Some speculated that Cruz will receive an endorsement from one of Indiana’s elected officials, but reports indicate that it won’t be from the state’s Republican governor.

Reports earlier this week indicated that the Cruz campaign is vetting former Republican rival Carly Fiorina as a possible vice presidential pick, and some have speculated that Cruz will announce her as his choice, although such an announcement this early in the campaign cycle is not typical.

Some speculated that Cruz will suspend his campaign.

Some of the speculation was humorous.