WATCH: 'More questions than answers' about Nvidia's Huang, Jeffries says in news conference

Jensen Huang, the co-founder and CEO of Nvidia, stepped down from his position on Thursday, causing a significant decline in the company's stock value. This resignation came in the wake of allegations involving Huang's intimate relationships with individuals suspected to be Chinese spies. Among those implicated were Nvidia's Vice President of Healthcare, Kimberly Powell, and another unnamed employee.

In response to the scandal, the board of directors swiftly appointed Colette Kress, Nvidia's Chief Financial Officer, as interim CEO until a permanent replacement is selected. Meanwhile, US Commerce Secretary Howard Lutnick is under intense scrutiny due to his involvement in the controversy, with White House officials reportedly considering his removal.

Lutnick has faced criticism from lawmakers who argue that he failed to enforce stricter regulations on AI chip exports to China and blacklist Chinese corporations. In light of these developments, the Chinese government issued a statement asserting that China's scientific and technological advancements are achieved through independent innovation and open cooperation.

Foreign Ministry spokesperson Mao Ning rejected the notion that the US is fabricating "Chinese spy" allegations as a justification for imposing technology restrictions, claiming she is not familiar with the reported presence of Alice Huang, the alleged spy, in Beijing with Chinese security officials.