The current binaries will remain available, but NVIDIA isn't committing to shipping future CUDA toolkit releases for Linux x86. They aren't specific if the support is dropped immediately from the next release or they will wait a while, but "might not be included in future releases." This 32-bit dropping announcement is only in relation to their Compute Unified Device Architecture components and not the binary 32-bit NVIDIA Linux GPU driver itself.
Though in the announcement of dropping 32-bit CUDA Linux support, it sounds like they might also remove the CUDA driver from the 64-bit NVIDIA Linux driver. "The CUDA driver might not be included in future releases of the NVIDIA Linux-x86 and Linux-x86_64 GPU driver packages."
The announcement by NVIDIA's Daniel Dadap of deprecating 32-bit Linux CUDA can be found via the NVIDIA DevTalk.