China has dismissed allegations that a Chinese businesswoman linked to NVIDIA chief executive Jensen Huang was involved in intelligence-gathering activities on behalf of Beijing, describing the claims as unfounded and politically motivated.

Responding to reports concerning the matter, Chinese Foreign Ministry spokesperson Guo Jiakun said the allegations were based on “groundless speculation” and amounted to “a smear against China”.

The remarks followed a report alleging that Alice Huang, a Chinese businesswoman said to have a close relationship with Jensen Huang, had been identified by US intelligence agencies as providing information to Beijing. Chinese Embassy spokesperson Yu Jing echoed the Foreign Ministry’s position, insisting that the so-called allegations were nothing more than “groundless speculation and a smear campaign against China”.

The controversy has intensified after NVIDIA confirmed that its board had launched an independent investigation into the claims. According to the company, a committee of independent directors, supported by external legal advisers, will oversee the review.

NVIDIA said safeguarding US national and economic security remains a priority and stated that the board currently has no reason to believe that either national security interests or company secrets were compromised. The company added that Jensen Huang supports the investigation fully and will co-operate with the review.

Reports indicate that US Secretary of State Marco Rubio was involved in the preparation of a highly classified memorandum circulated among senior administration officials earlier this year. The document reportedly warned that Jensen Huang maintained a close relationship with Alice Huang, whom US intelligence agencies believed had been recruited by China’s Ministry of State Security.

The concerns were reportedly based on intelligence gathered through electronic surveillance of Alice Huang, a senior executive at Singapore-based Megaspeed. US officials suspected that the company played a role in moving restricted NVIDIA semiconductor technology into mainland China despite export controls.

According to the reports, Megaspeed purchased roughly USD 2 billion worth of NVIDIA products despite having a relatively small local presence. The company develops data centres across South-East Asia and leases computing capacity to Alibaba, one of China’s largest technology groups.

American officials reportedly suspect that Megaspeed acted as a channel for obtaining advanced NVIDIA processors whose export to China is restricted on national security grounds.

Investigators also examined Alice Huang’s contacts within the artificial intelligence and semiconductor industries. She was reportedly photographed alongside Jensen Huang and other senior industry figures in Taipei during a period when Megaspeed was making multibillion-dollar purchases of advanced AI chips.

NVIDIA has previously defended Jensen Huang’s interactions with customers, stating that meetings with individuals such as Alice Huang were “not unusual”. The company also rejected the allegations as “baseless” and stressed that customers do not receive access to confidential commercial information.

Separately, Jensen Huang acknowledged personal misconduct in an internal memo, admitting: “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did.”

He also apologised to NVIDIA employees, directors, partners and shareholders, saying he regretted falling short of his responsibilities and would work to rebuild trust.

Political scrutiny has continued to grow in Washington. According to reports, three Republican House committee chairmen have asked Jensen Huang to discuss, in a closed-door setting, his reported links to a Chinese businesswoman suspected of passing information to Beijing.

Despite the investigation and mounting political attention, NVIDIA has maintained that the developments will not affect its operations and confirmed that Jensen Huang remains fully committed to continuing as the company’s chief executive.

ANI