China dismisses claims of spy plot involving Nvidia CEO Huang as a smear campaign

China has rejected allegations that it used a business executive to gather information on Nvidia chief executive Jensen Huang, calling the claims unsubstantiated and a smear campaign. The dispute matters because Nvidia’s technology sales to China are already caught between US export controls and Beijing’s restrictions, while the company has opened an independent investigation into reports that Huang was targeted.

Huang has acknowledged an intimate relationship with an unnamed executive and said he would co-operate with Nvidia’s investigation. The New York Times reported that US intelligence believed the woman was gathering information for Beijing; Nvidia has not publicly confirmed that account. Nvidia shares fell about 5% in pre-market trading on Monday, and a company filing said it had sold only a small amount of chips to China amid restrictions.