Trump orders divestment in $2.9 million chips deal to protect U.S. security interests
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President Trump has ordered the divestment of a $2.9 million computer chips deal with HieFo Corp., citing U.S. security concerns. The deal, initially made during Biden's administration, involved Emcore Corp. selling its chip operations to HieFo, which is linked to Chinese ownership. Trump demands HieFo divest the technology within 180 days, referencing credible evidence of its Chinese ties. HieFo's CEO, Dr. Genzao Zhang, previously worked at Emcore and aimed to innovate in AI technology. Emcore, once public, was taken private by Charlesbank Capital Partners last year.
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