Nikolas Sargeant
A last-minute halt on a crypto announcement underscores how Nvidia still excludes blockchain projects from its flagship programs, despite continued outreach from the sector.
Arbitrum Partnership Announcement Unexpectedly Paused
The Layer 2 Ethereum scaling network Arbitrum was poised to announce a significant milestone as Nvidia's exclusive Ethereum partner for the chipmaker's new Ignition AI Accelerator program. However, the announcement was abruptly paused at Nvidia's request, with the company providing no specific explanation for the delay.
"We received some last-minute comms from Nvidia requesting to pause the announcement, however, they didn't provide any specific details as to why," an Arbitrum spokesperson confirmed in an email.
Nvidia's Historical Stance on Cryptocurrency
This incident highlights Nvidia's ongoing reluctance to embrace crypto-related initiatives within its ecosystem. The company's Inception Accelerator program explicitly lists cryptocurrency among its disqualifiers, reflecting a consistent position of keeping the blockchain industry at arm's length.
Nvidia's cautious approach stems from historical challenges with the crypto sector. CEO Jensen Huang previously described the aftermath of the 2018 ICO boom as giving Nvidia a "crypto hangover" after Ethereum's price collapse left the company with excess GPU inventory. The situation eventually resulted in Nvidia paying a $5.5 million fine related to how it reported crypto-related revenue impacts.
AI Embrace vs. Crypto Exclusion
While maintaining distance from cryptocurrency projects, Nvidia has enthusiastically embraced artificial intelligence. CTO Michael Kagan made the company's position clear in a 2023 interview, stating that "Crypto doesn't bring anything useful for society" and "I never believed that [crypto] is something that will do something good for humanity," contrasting it sharply with AI's potential benefits.
Despite occasional rhetorical references that could be interpreted as openings toward the crypto industry, Nvidia has shown no concrete signs of changing its formal stance. Even as blockchain developers continue seeking ways to align with AI advancements and access Nvidia's powerful technological ecosystem, the company's message to the crypto industry remains consistent: you're not invited to the party.
