Nvidia’s accelerator program, known as Inception, has begun excluding crypto startups from participation. The company’s policy change reflects a broader trend away from digital assets, contrasting with their earlier acceptance of blockchain firms like Ubex. Amidst ongoing export restrictions aimed at limiting AI technology access to China, Nvidia’s standing in the semiconductor and AI industries is also at risk of facing a significant revenue impact.
Nvidia’s recent update to its accelerator program has raised some eyebrows in the tech community. The program, known as Inception, now excludes crypto-focused startups. The specifics on their website note that not just crypto firms, but consulting and outsourcing companies, cloud service providers, resellers, distributors, and publicly listed businesses are also barred from joining. This marks a notable shift in policy, contrasting sharply with years past.
Back in 2018, Nvidia welcomed Ubex, a company that blends blockchain technology with AI for the digital advertising sector, into the Inception program. But now, it seems Nvidia is tightening the reins, choosing to step away from the crypto sector altogether. Officials from Nvidia have been mum on the reasons for these changes—no statements have been issued concerning the eligibility guidelines.
The Inception program aims to support fledgling companies under 10 years old, helping them navigate funding stages in the tech industry. Nvidia is best known for its advanced semiconductors, which fuel data centre operations and have historically gained traction among crypto miners. Previously, the tech giant has even considered crypto applications for its products, which makes this shift a bit surprising.
As for Nvidia’s standing in the market, it’s hard to overstate its importance in the AI landscape, especially in light of geopolitical tensions. The company recently launched its H20 chip in 2024, which was crafted to align with US export restrictions targeting China’s access to sophisticated AI technology. While the H20 chip isn’t as powerful as Nvidia’s flagship models, it still has the potential to contribute to AI progress in China.
Adding to the complexity, the Trump administration has responded to these developments by enforcing stricter export controls, potentially complicating Nvidia’s sales to China. In 2024, Chinese markets accounted for about 13% of Nvidia’s revenue. These ongoing export restrictions could translate into a staggering estimated $5.5 billion shortfall for the company, further unsettling its global strategy.
