  FU Orionis is the prototype of a class of eruptive young stars (``FUors'')
characterized by strong optical outbursts. We recently completed an exploratory
survey of FUors using XMM-Newton to determine their X-ray properties, about
which little was previously known. The prototype FU Ori and V1735 Cyg were
detected. The X-ray spectrum of FU Ori was found to be unusual, consisting of a
cool moderately-absorbed component plus a hotter component viewed through an
absorption column density that is an order of magnitude higher. We present here
a sensitive (99 ks) follow-up X-ray observation of FU Ori obtained at higher
angular resolution with Chandra ACIS-S. The unusual multi-component spectrum is
confirmed. The hot component is centered on FU Ori and dominates the emission
above 2 keV. It is variable (a signature of magnetic activity) and is probably
coronal emission originating close to FU Ori's surface viewed through cool gas
in FU Ori's strong wind or accretion stream. In contrast, the X-ray centroid of
the soft emission below 2 keV is offset 0.20 arcsec to the southeast of FU Ori,
toward the near-IR companion (FU Ori S). This offset amounts to slightly less
than half the separation between the two stars. The most likely explanation for
the offset is that the companion contributes significantly to the softer X-ray
emission below 2 keV (and weakly above 2 keV). The superimposed X-ray
contributions from FU Ori and the companion resolve the paradox posed by
XMM-Newton of an apparently single X-ray source viewed through two different
absorption columns.
