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President Donald Trump said Monday that the FBI is investigating an affair between Nvidia chief executive Jensen Huang and an alleged Chinese spy, Alice Huang. Trump said he phoned Huang on Monday and asked whether he knew she was a spy, and that Huang said he had no idea, which Trump said he believed. Trump gave no details of the investigation's scope or when it began, and the FBI declined to comment. Beijing rejected claims that Huang was targeted, with its foreign ministry calling the allegations groundless and speculative. Nvidia has commissioned an independent investigation and said it had no reason to believe its secrets or national security were compromised. The New York Times reported that US intelligence officials believe Alice Huang, who is not related to Jensen Huang, spied for Beijing, and that Secretary of State Marco Rubio warned top officials in spring about the relationship. Alice Huang was managing director of Singapore's Megaspeed, which has had dealings with Nvidia. The revelations wiped about $250bn off Nvidia's value on Monday as its shares fell more than 4%. A proposed class action in California accuses Huang and Nvidia of defrauding shareholders by concealing the ties. Huang has admitted being unfaithful and apologised, and said he will cooperate with the company's investigation. Several congressional committees have asked him to attend a closed-door briefing next week, but it is unclear whether he will appear.