I have a H4 visa in my passport, however neither myself nor my spouse (H1B holder) has traveled yet. Now my company wants to apply for my B1 visa.
Will my H4 get cancelled due to the B1 application?
There is a possibility that they will cancel H-4 w/o prejudice when approving your B-1 visa. This is b/c B-1 is a pure non-immigrant visa while H-4 is a dual intent visa (H-1 visa holder can apply for green card through his employer).
Even if it is canceled, you can reapply for it in future by again appearing for H-4 visa stamping.