Nvidia has paused its anticipated collaboration with Arbitrum, an Ethereum Layer 2 network, just moments before it was due to be announced. The sudden halt comes amid Nvidia’s continued reluctance to associate with cryptocurrency projects, despite growing crossover between AI and blockchain innovation.
Nvidia’s No-Crypto Policy Strikes Again
The paused partnership was tied to Nvidia’s Ignition AI Accelerator, part of the company’s broader Inception Program that supports AI startups. Arbitrum was poised to be a flagship partner—until Nvidia reportedly stepped back without explanation.
This isn’t new territory. Nvidia’s top executives have publicly dismissed crypto’s value.
In 2023, CTO Michael Kagan stated, “Crypto doesn’t bring anything useful for society,” echoing the sentiment of CEO Jensen Huang.
Their stance has translated into company policy, with Nvidia consistently excluding crypto startups from key initiatives.
Nvidia’s skepticism is rooted in past experience. The 2018 ICO crash left the company with excess GPU inventory and resulted in a $5.5 million fine for underreporting crypto-linked revenue. Since then, the chipmaker has maintained a cautious distance from the blockchain sector.
AI First: Nvidia’s Clear Focus
While Nvidia distances itself from crypto, it continues to champion AI. Executives have repeatedly praised AI’s potential to transform industries and society, with no similar enthusiasm for blockchain. Notably, Nvidia still welcomes AI startups—even if their founders have ties to the crypto world.
Nvidia’s latest move with Arbitrum signals no shift in its stance. For now, the door remains closed to crypto, regardless of how deeply blockchain and AI may intertwine in the future.
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