Nvidia Maintains Distance from Crypto Sector

The ARB$0.1743 project was on the verge of a significant announcement. As a Layer 2 network hosting a growing array of decentralized AI platforms, it was set to reveal a major milestone: being named Nvidia's exclusive Ethereum partner for the Ignition AI Accelerator, a subsidiary of the Inception program that provides AI startups with infrastructure credits and mentorship. However, the announcement was put on hold at the last minute. According to a spokesperson, "We received a last-minute communication from Nvidia requesting to pause the announcement, but they did not provide any specific reasons for this decision." This development serves as a reminder that, despite the crypto sector's ongoing efforts to align itself with the thriving AI industry, Nvidia's programs continue to explicitly exclude crypto-related projects. A review of the Inception Accelerator's eligibility criteria reveals a clear disqualifier: cryptocurrency. Nvidia's stance on this issue is not new, and while it may be frustrating for crypto developers seeking to tap into the company's ecosystem, it reflects a longer history of skepticism and occasional criticism from the company's leadership. In 2018, Nvidia co-founder and CEO Jensen Huang described the aftermath of the ICO boom as giving the company a "crypto hangover," resulting in unsold GPU inventory and a $5.5 million fine for misreporting the impact of crypto-related revenue. Years later, in a 2023 interview with The Guardian, Nvidia CTO Michael Kagan stated, "Crypto does not contribute anything useful to society," adding, "I never believed that crypto would have a positive impact on humanity," in contrast to AI. This skepticism stands in stark contrast to Nvidia's enthusiastic embrace of artificial intelligence and its occasional tolerance of blockchain technology. At the 2024 Graphics Technology Conference, Huang shared the stage with Illia Polosukhin, co-author of the paper that introduced Transformer models, which are the foundation for modern AI tools like ChatGPT. Although Polosukhin is also a co-founder of the NEAR blockchain, the discussion focused solely on AI, not crypto. The closest reference to the crypto industry came when Huang said, "We have programmable humans, programmable proteins, and programmable money." This remark, likely rhetorical, did not signal support for crypto, despite the enthusiasm of AI token proponents, and did not indicate a strategic shift. Although Nvidia has been clear about its position on crypto, some in the industry continue to interpret moments like these as potential openings, possibly indicating a softening of the company's stance. However, with crypto still formally excluded from Nvidia's flagship programs and the company declining to comment on its current stance, the door to inclusion appears to remain firmly closed. For the time being, Nvidia's message seems clear: crypto is not welcome.