Arbitrum says it pulled out of accelerator program after Nvidia refused crypto association
Quick Take The Arbitrum Foundation said it withdrew from the Nvidia-backed Ignition AI Accelerator program after the chip maker requested not to be named in any public announcements. Earlier reports indicated that NVIDIA rejected Arbitrum’s bid to join the accelerator program. Arbitrum called the withdrawal a “sound business decision” in a statement.
The Arbitrum Foundation, the muscle behind the Ethereum Layer 2 blockchain network by the same name, said it withdrew from an Nvidia-backed accelerator program after the latter company, the world's largest chipmaker, said it didn't want to be mentioned in any public announcements.
Earlier reporting indicated that Nvidia pulled the plug on the arrangement, which would've seen Arbitrum become the exclusive Ethereum partner for the Nvidia- and Tribe-backed Ignition AI Accelerator program. The program would have provided the network with AI development guidance and cloud credits.
However, the Arbitrum Foundation said, Nvidia changed its tune in recent weeks, saying it was willing to partner with Arbitrum, as long as the chipmaker wasn't mentioned in any public-facing crypto-related announcements.
"Arbitrum was not removed from the AI Ignition Accelerator — the team made the decision to disengage after Nvidia asked to remove its brand from crypto-related announcements, signaling a lack of long-term commitment," a Foundation spokesperson told The Block.
The Ignition Accelerator said in a statement that an embargoed press release provided to CoinDesk, which reported that Nvidia "still explicitly exclude[s] crypto-related projects," had incorrect information. "Arbitrum Foundation has kindly requested to pull out from this partnership with the Ignition AI Accelerator," the statement reads.
Other crypto firms have inked partnerships with the Ignition AI accelerator, such as the Aptos Foundation , which supports the Layer 1 Aptos blockchain.
"Ultimately, disengaging from participating in the AI Ignition Accelerator was a sound business decision for The Arbitrum Foundation, as it is committed to collaborating with partners who are positioned to support the acceleration of blockchain innovation," the Foundation said.
Arbitrum is up about 1.8% in price over the past 24 hours, according to The Block's ARB Price page . Nvidia declined to comment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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