On April 27, 2023, the Arbitrum Foundation announced its withdrawal from Nvidia's Ignition AI Accelerator, citing Nvidia's request for crypto-related announcements to be excluded.
Arbitrum's Strategic Withdrawal from Nvidia Program
The Arbitrum Foundation decided to withdraw from Nvidia's Ignition AI Accelerator, referencing Nvidia's request to keep collaboration details undisclosed. "The team decided to disengage after Nvidia asked to remove its brand from crypto-related announcements, signaling a lack of long-term commitment," stated [Arbitrum Foundation]. Previously, it was intended that Arbitrum would be the sole Ethereum ecosystem representative in the program, aimed at offering AI development guidance and cloud resources.
Nvidia's Position and Arbitrum's Market Resilience
It is noted that Nvidia's repeated avoidance of public crypto partnerships reflects a trend among tech giants to maintain distance from blockchain projects due to regulatory uncertainty.
Market Behavior of ARB Token
Currently, the price of Arbitrum's governance token (ARB) is $0.34, with a market capitalization of $1.61 billion. The ARB token has seen a 3.49% drop in the last 24 hours but has experienced an 11.67% gain over the week. Trading volume reached $126.58 million.
Arbitrum's exit from the Nvidia Ignition AI Accelerator underscores the foundation's strategic orientation towards partnering with companies that openly support blockchain. Meanwhile, the resilience of the ARB token demonstrates market stability despite changes in partnership.
