According to Gianluca Di Marzio, no official offers has been made with both players being monitored.
Chiesa joined current club Juventus back in 2020 and proved himself as one of the top players in Serie A.
Unfortunately a serious cruciate ligament injury saw the winger ruled out for a lengthy spell, with the 25-year-old being eased back into the first team fold this term.
Despite only starting six Serie A games this term, Chiesa did manage two goals and five assists along the way.
As for Hernandez, the AC Milan full-back is a key player at the San Siro having made 44 appearances for the Champions League semi-finalists.
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Atletico Madrid are also keen on a move, meaning that Newcastle would face significant competition for the France international's signature.
However one advantage that Newcastle could hold is the progress being made in the negotiations to sign Sandro Tonali.
A teammate of Hernandez at AC Milan, the Italian midfielder is reportedly closing in on a £60million move to St James' Park.