Trump Orders Divestment in $2.9M Chips Deal Citing US Security Threat

• President Trump ordered HieFo Corp. to divest its $2.9 million computer chips deal, citing US national security concerns.
• The deal, involving Emcore Corp.'s chip operations, was announced in May 2024 during President Biden's administration.
• Trump's order stems from "credible evidence" that HieFo's owner, Dr. Genzao Zhang, is a citizen of the People's Republic of China.
• HieFo, co-founded by Dr. Genzao Zhang and Harry Moore, acquired technology intended for applications including artificial intelligence.
• HieFo has 180 days to divest the technology, which was originally sold by Emcore for $2.92 million.

Why It Matters: Trump mandates HieFo divest $2.9M chips deal over US security fears linked to Chinese ownership.