The problem here is that by default Arch boots up with kernel modesetting for the display (and console), using the open source nouveau driver. It seems that the driver included in this kernel doesn't support your graphics chipset, and rather than fallback, it simply gives you no console display.
To disable kernel modesetting you can edit the boot options in the boot menu and add the following
It's possible that it will work with the latest kernel once you update Arch. However, if you install the official nvidia drivers this will not be necessary, as nouveau isn't used any more.