President Donald Trump ordered the divestment of a $2.9 million computer chips deal with HieFo Corp. due to national security concerns related to Chinese ownership. The controversy highlights ongoing tensions over technology transfers between the US and China. #HieFo #Emcore #ChineseOwnership #USNationalSecurity
Keypoints
- Trump mandated HieFo to divest a computer chips technology within 180 days.
- The deal involved Emcore selling its chip operations to HieFo for nearly $3 million.
- The deal was scrutinized due to HieFo’s alleged Chinese citizenship.
- HieFo was founded by Dr. Genzao Zhang and Harry Moore, with plans for AI applications.
- Emcore was previously public but was taken private by Charlesbank Capital Partners.