President Donald Trump on Friday ordered unsealed a $2.9 million computer chip deal that he concluded threatened U.S. security interests if the current owner, HieFo, remained in control of the technology.
Washington– President Donald Trump on Friday ordered unsealed a $2.9 million computer chip deal that he concluded threatened U.S. security interests if the current owner, HieFo, remained in control of the technology.
The executive order highlighted a trade deal that received little attention when it was Announced in May 2024 During the administration of President Joe Biden. The deal involved aerospace and defense maker Emcore Corp. selling its computer chips and chip manufacturing operations to HieFo for $2.92 million — a price that included the assumption of liabilities of about $1 million.
But so is Trump Demand now HieFo is divesting this technology within 180 days, citing “credible evidence” that the current owner is a citizen of the People’s Republic of China.
HieFo was founded by Dr. Jinzhao Zhang and Harry Moore. According to A press release Rolled out after the deal closed, Emcore’s acquired technology plans were to be overseen by largely the same team of employees in Alhambra, California.
Zhang, who was vice president of engineering at Emcore before becoming HieFo’s CEO, pledged to “continue to pursue the most innovative solutions and drive disruptive change” with purpose-built technology, including artificial intelligence.
HieFo did not immediately respond to a request for comment on Trump’s order.
Emcore was a publicly traded company at the time of the HieFo deal, but was taken private last year by investment firm Charlesbank Capital Partner.