Trump orders divestment in chips deal to protect U.S. security interests
NBC News••business
Key Points:
- President Donald Trump issued an executive order to unwind a $2.9 million deal involving Emcore Corp.'s computer chips and wafer fabrication operations sold to HieFo Corp., citing U.S. security concerns.
- The order requires HieFo to divest the acquired technology within 180 days due to "credible evidence" that HieFo's owner is a citizen of the People’s Republic of China.
- The deal was initially completed in May 2024 during President Joe Biden’s administration and included the assumption of approximately $1 million in liabilities.
- HieFo was founded by Dr. Genzao Zhang, former Emcore VP of engineering, who planned to continue developing advanced technology, including AI applications, with largely the
