Arbitrum Foundation Exits Nvidia’s AI Accelerator Program, Here’s Why

The Arbitrum Foundation, which supports the Ethereum Layer 2 blockchain network, has boldly moved. As announced recently, the foundation has decided to withdraw from Nvidia’s Ignition Artificial Intelligence (AI) Accelerator program. This decision came after Nvidia requested that its brand not be mentioned in cryptocurrency-related public announcements. Nvidia Disassociates From Crypto-Related Project Initially, the Arbitrum Foundation was selected as the exclusive Ethereum partner for Nvidia’s Ignition AI Accelerator program . Notably, this program is backed by both Nvidia and Tribe. This partnership was set to provide Arbitrum with access to AI development support and cloud credits. However, Nvidia changed its stance in recent weeks. The American multinational technology company stated that while it was still open to working with Arbitrum, it did not want its name to be associated with crypto-related projects in public announcements. This condition caused the partnership to fall apart. Arbitrum Steps Back from Nvidia AI Partnership In a statement, a spokesman from the Arbitrum Foundation clarified that it was not removed from the accelerator program. Instead, the foundation chose to withdraw at Nvidia’s request. The Foundation saw Nvidia’s request to exclude its brand from crypto-related content as a sign that the company was not committed to a long-term partnership. As a result, Arbitrum chose to leave the program to ensure its partnerships aligned with its goals. The Ignition AI Accelerator also released a statement addressing confusion over the situation. The statement clarified that Arbitrum had decided to leave the program. This was to clear up an earlier report suggesting that Nvidia was the one that withdrew its support. The accelerator also confirmed that other blockchain projects, like the Aptos Foundation, are still involved. This shows that crypto companies remain part of the program. Arbitrum Token Grows Despite Setback Despite the partnership setback, Arbitrum’s token, ARB, has seen a 1.8% increase in price in the last 24 hours, according to CoinMarketCap data. This uptick shows a continued market interest and confidence in the project’s network. Arbitrum’s choice to leave the Nvidia-backed program was seen as a smart move. The Foundation wants to work with partners who are fully committed to advancing blockchain technology and innovation. The post Arbitrum Foundation Exits Nvidia’s AI Accelerator Program, Here’s Why appeared first on TheCoinrise.com .

Source: The Coin Rise