NVIDIA has refuted a report by The New York Times claiming that U.S. intelligence agencies monitored an individual close to NVIDIA CEO Jensen Huang, suspecting them of being a Chinese spy.

An NVIDIA spokesperson told CNBC that Megaspeed, the Singaporean cloud services company mentioned in the report, is a regional client, and interactions between Jensen Huang and clients are common. Clients do not have access to trade secrets or national security information. NVIDIA also stated that accusations of Megaspeed circumventing U.S. AI chip export controls were "thoroughly investigated and refuted last year."