Hughton seemed a little perplexed when asked about the £20m Ashley said he was "putting into the club".
The new Toon boss explained the money would go into "the day to day maintenance of the club, not on transfers".
Asked if he would be delving into the transfer market in January he replied: "We will sit down and talk about it.
"I have been given the go-head to bring in some loan signings."