Intel, which now counts the U.S. government as its largest shareholder, said on Tuesday that it will match the Trump administration’s $1,000 payout for children of eligible U.S. employees.

The matching funds, which is a benefit for Intel staff, mark the latest sign of a close working relationship between the Trump administration and Intel after the government took a 10% stake in the chipmaker last year through an $8.9 billion investment.

The 530A program, often called “Trump Accounts,” passed as part of the administration’s “big beautiful bill,” and is intended to jumpstart wealth-building opportunities for children, allowing their investments to grow and compound for years before they become adults.

“America’s future technologists will define the next era of innovation, and the Trump Accounts program helps give them an early financial foundation,” Lip-Bu Tan, Intel CEO, said in Tuesday’s statement.

Intel is joining a list of other companies that say they will match the federal $1,000 contribution. They include SoFi, Charter Communications, BNY, BlackRock, Investment Company Institute, Robinhood and Charles Schwab.

The program allows parents to open tax-advantaged investment accounts for children under 18, with kids born between 2025 and 2028 getting seed funding of $1,000 from the government. Employer contributions up to $2,500 don’t count as taxable income. Parents will be able to open the accounts in July.

In December, Dell founder Michael Dell said he would donate $6.25 billion to the program, to seed some Trump Accounts for children born before the Jan. 1 cutoff with $250.

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