On January 2, 2026, President Donald Trump issued an executive order directing HieFo Corporation (HieFo), a California-based photonics company, to divest its ownership of EMCORE Corporation’s (Emcore) digital chips business, citing concerns over Chinese control of HieFo. The presidential decision followed an investigation by the Committee on Foreign Investment in the United States (CFIUS or the Committee) that found there was “credible evidence” that HieFo “might take action that threatens to...