Update Ambassador Program timeline and status

Removed timeline for the Ambassador Program and added a note about the current status.

Author: reginankenchor

README.md

@@ -27,11 +27,8 @@ Please check back here or on [pytorch.org](https://pytorch.org/programs/ambassad
 
 ## 🗓️ Timeline – Current Cycle
 
-| Date(s)        | Event |
-|----------------|-------|
-| **August 11 – 22** | Internal review |
-| **August 29**  | Candidate notifications sent |
-| **September 8** | Ambassador onboarding begins |
+There is no active Ambassador Program cycle at this time.  
+Please check back for the next nomination window.
 
 ## ❓ Frequently Asked Questions (FAQ)