China Calls Accusations It Spied on Nvidia CEO 'Baseless Smears'

Beijing dismissed allegations that it spied on Nvidia Corp. Chief Executive Officer Jensen Huang, an episode that is spiraling a little over a week before a meeting between Chinese leader Xi Jinping and US President Donald Trump.&ldquo;The so-called Chinese spy allegation is unsubstantiated,&rdquo; Foreign Ministry spokesman Guo Jiakun said at a regular press briefing in Beijing. Guo repeated a stance China first took on Oct. 30 after the New York Times reported that US spies apparently found that a Chinese businesswoman who had a relationship with Huang was passing intelligence to Beijing.ALSO READ:&amp;nbsp;Nvidia&#039;s Biggest Problem Isn&#039;t Dragging Down Wall Street Futures. Here&#039;s Why&ldquo;It is nothing but smears against China,&rdquo; Guo added at the briefing on Monday.The episode could complicate the Xi-Trump summit set for next week at an Asia-Pacific Economic Cooperation gathering in the southern Chinese city Shenzhen. The third meeting between the leaders between the world&#039;s largest economies will be closely watched for signs they can maintain a fragile trade truce, especially after Trump&#039;s Republican Party lost control of Congress in midterm elections.Photo Credit: Bloomberg NewsThe incident also threatens to further roil an artificial intelligence market shaken by concerns about a slowdown in data center spending. Nvidia makes chips that are crucial to AI computing equipment and is one of the world&#039;s most valuable businesses.Huang has admitted an affair after a series of reports identified a woman linked to him as a suspected Chinese spy. Last week, key House Republicans requested a briefing with Huang to discuss his dealings with Alice Huang, also known as Huang Le.To investigate the case, the Nvidia board is assembling a committee of independent directors who will work with outside counsel, according to a statement Sunday. The probe follows a series of reports that Nvidia&#039;s leader was targeted by Alice Huang, a former executive at Megaspeed International. Megaspeed, based in Singapore, has been accused of breaking US export restrictions and smuggling Nvidia chips to China.&amp;nbsp;Trump defended Huang, calling him a &ldquo;fine person&rdquo; and saying he should remain CEO.&amp;nbsp;George Chen, partner and chair of digital practice at The Asia Group, an advisory firm based on Washington, said it was difficult to imagine Nvidia without Huang. &ldquo;I don&#039;t think it will serve the best interests of Nvidia shareholders and industry partners either if Jensen suddenly quits tomorrow,&rdquo; Chen said.&ldquo;There is little benefit in rushing to judgment before the facts are known,&rdquo; he added. &ldquo;Investors and the broader technology community should remain calm rather than react out of panic or speculation and that will not serve American national interests either.&rdquo;Also on Monday, the state-run Global Times newspaper denied Beijing had any link to Huang&#039;s affair, accusing US media of spreading a false narrative and warning the issue could hurt ties. It said said outlets, the New York Times in particular, were &ldquo;going crazy&rdquo; with speculative stories.&ldquo;All it took were a few photographs showing Asian faces and Nvidia&#039;s previous efforts to push for relaxing trade curbs on China,&rdquo; the commentary said. &ldquo;This is precisely how American media, which have long styled themselves as &lsquo;objective,&#039; manufacture stories.&rdquo;ALSO READ:&amp;nbsp;Nvidia&#039;s Bad Week Could Be AMD&#039;s Big Moment. Here&#039;s Why&ldquo;Whenever China-US relations begin to improve, someone often fires a cold shot from behind,&rdquo; the newspaper said, claiming there were likely behind-the-scenes efforts to &ldquo;stir up confrontation,&rdquo; without providing any evidence. It warned that an &ldquo;anti-China script&rdquo; would disrupt normal tech and trade exchanges, and damage the interests of both sides.The Global Times commentary also compared the episode to an incident in 2023 in which a Chinese balloon flew over the US, causing a diplomatic dispute. Beijing said a civilian airship used mainly for meteorological research strayed off course due to the weather, while Washington described it as a surveillance aircraft and shot it down over the sea.(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

China Calls Accusations It Spied on Nvidia CEO 'Baseless Smears'

The episode could complicate the Xi-Trump summit set for next week at an Asia-Pacific Economic Cooperation gathering in the Chinese city Shenzhen.

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