He could claim that if someone else from the company was meeting Alice at megaspeed and being photographed. If it had been someone else flying to Beijing with Trump to convince him to sell chips to China and donating $25 million to him. Coming to an agreement to move H200s from Taiwan to the US before shipping out to China for the US government to collect tariffs off it. If Lutnik hadn't been warned about Alice and Megaspeed by US intelligence a year before but chose to allow the deal to continue.
And most important of all if Trump hadn't lost control of two branches of government after the US midterms.
Unfortunately Jensen didn't do those things and political powers shifting while leaving behind a loud paper trail instead of being more covert like Chase who explained why they didn't donate to the ballroom like other companies.
“We have an issue, OK, which is anything we do, since we do a lot of contracts with governments here and around the world, we have to be very careful about how anything is perceived,” Dimon said. “And also how the next DOJ is going to deal with it.”
https://thehill.com/business/5593632-dimon-jpmorgan-white-house-ballroom/