Group 1 - President Trump ordered the divestment of a $2.9 million computer chips deal involving HieFo Corp. due to security concerns [1][3] - The deal, initially announced in May 2024, involved Emcore Corp. selling its computer chips and wafer fabrication operations to HieFo for $2.92 million, which included assuming about $1 million in liabilities [2] - Trump cited "credible evidence" that HieFo's current owner is a citizen of the People's Republic of China, demanding divestment within 180 days [3] Group 2 - HieFo was founded by Dr. Genzao Zhang and Harry Moore, with Zhang previously serving as vice president of engineering at Emcore [3][4] - Plans for the technology acquired from Emcore were to be managed by the same team of employees in Alhambra, California [3] - HieFo's CEO, Zhang, expressed intentions to pursue innovative solutions, including applications in artificial intelligence [4]
President Trump orders divestment in $2.9 million chips deal to protect US security interests
Yahoo Finance·2026-01-02 23:37