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Nvidia shares fell about 5% after reports tied chief executive Jensen Huang to an accused Chinese spy, and Trump said Huang told him he did not know. The company said its board has launched an independent investigation into the reports, which describe Huang as the target of a "foreign intelligence effort." CNBC reported that Singapore-based MegaSpeed, a chip buyer drawn into the affair, has previously been probed for allegedly supplying China with Nvidia chips. The controversy comes as Nvidia already faces heightened scrutiny, and newly empowered Democrats are using it as grounds to pursue oversight of the company. CNBC also reported that President Donald Trump said on Monday that Huang had told him he did not know the woman, identified in the coverage as Alice Huang, "was a spy," and Trump suggested he had only recently learned of the allegations. The outcome of the board's investigation and any government response were not reported.