The company said a portion of the funds will go toward Feeding Texas' emergency response efforts in Houston.
"Hundreds of thousands of Texans are going to turn to food banks in the days and weeks to come, on top of the millions already struggling to feed their families during the pandemic," Celia Cole, CEO of Feeding Texas, said in a statement.
MORE: Here's how you can help Texans in need
Walmart also said it will prioritize helping its own employees affected by storms and restocking shelves with essential supplies.
The nation's largest retailer reportedly closed 500 stores, most of them in Texas, on Tuesday. By Wednesday evening, it said fewer than 300 remained closed.
Many chains like Walmart were forced to close some stores either because of lack of power or lack of workers.
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