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Gianna Maria-Onore Bryant was born at 2:03 a.m. in Orange County, Calif. ESPN's Jim Gray reported that she was 6 pounds, 7 ounces and 18.5 inches long.
Mother and baby were said to be doing well.
"The arrival of our new daughter Gianna early this morning is such an incredible blessing for me and my family," Bryant said in a statement. "We are all full of beautiful emotions after such an incredible day."
The Los Angeles Lakers star and his wife also have a daughter named Natalia, who turned 3 years old in January.
Bryant didn't attend practice Monday or travel with his teammates to Phoenix for Game 5, to be played Tuesday night.
"I told him not to worry about that, to come when he can and get the rest he needs," Lakers coach Phil Jackson said. "Hopefully he'll get there tonight, or if not, shootaround tomorrow.
"There's a huge emotional feeling about having a child that's just beyond belief. We're happy for him. The timing's right, he'll have some rest, but I'm sure it's not easy to sleep after all those things happen," Jackson said.
Gianna Bryant was born just six minutes after Mearah Sanaa O'Neal, the sixth child of former Bryant teammate Shaquille O'Neal.
Information from The Associated Press was used in this report.