Nvidia, the leading chip manufacturer in the US, has abruptly halted a planned announcement regarding cryptocurrencies, further emphasizing its cautious stance towards involvement in the industry. Notably, its accelerator program excluded crypto startups from joining the Inception Program, listing them as ineligible for participation. While Nvidia did not invest directly in crypto markets, it significantly benefited from the cryptocurrency sector, particularly through the demand for its GPUs used in Bitcoin mining, a demand that contributed substantially to the company’s recent revenue growth. However, the chipmaker has shifted its focus towards AI technologies, prioritizing these ventures over blockchain-related projects. Nvidia’s chief technology officer, Michael Kagan, argued that AI applications such as ChatGPT offer greater societal benefits compared to crypto mining. This view was echoed by Nvidia CEO Jensen Huang who stated that programmable humans, proteins and money were more impactful than cryptocurrencies in the long run. In addition, Nvidia has implemented measures to curb GPU usage for cryptocurrency mining. It also aims to prioritize domestic electronics manufacturing infrastructure through a $500 billion investment plan, potentially impacting the competitive landscape with rising threat from Chinese company Huawei. Nvidia’s recent shift in focus highlights the growing influence of AI on the technology sector and its potential to revolutionize various industries.