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News in Memphis, TN

Deseret News · Memphis, TN

How Nvidia CEO Jensen Huang’s resignation impacts the market

Jensen Huang, co-founder and CEO of advanced chipmaker Nvidia, is stepping down from the company following allegations of extramarital affairs. Huang, who helped launch the company in 1993, has been at the helm of Nvidia on its rise to the world’s most prominent maker of advanced micro processors, propelled in large part by the evolution of artificial intelligence development and the sector’s hunger for ever faster and more efficient computing power. Nvidia stock was down around 5% midday on Thursday but the company has shed over $500 billion in value over the past week. While still one of the most valuable companies in the world, Nvidia’s market capitalization is now below the $4 trillion mark for the first time in a year. Huang is the company’s largest individual stock holder and reportedly controls about 3.6% of Nvidia shares.

Memphis Flyer · Memphis, TN

Welcome Back: Mud Island Amphitheater Sets Concert Series

Repairs are well underway at the Mud Island Amphitheater as organizers plan to reactivate the space for music and entertainment. Jerred Price, president of the Downtown Neighborhood Association of Memphis (DNA), says the “Comeback Concert Series” is planned for April at the amphitheater. The Memphis City Council approved $150,000 in funding towards repairs in September. “Work has included concrete repairs, improvements to the stage surface, new handrails, and designated accessible areas,” Price said in a statement. “Those might not sound like glamorous improvements, but they’re important. They’re the kinds of things that have to happen before we can responsibly welcome people back into the venue.” Price said they need continued collaboration with the City of Memphis, Memphis River Parks and other organizers to responsibly complete planning.

Memphis Flyer · Memphis, TN

County Officials Believe Weather Conditions to be Cause of ‘Odor’ in Air

The Shelby County Health Department said there is “no single source” responsible for odor concerns across the county and city of Memphis. Health officials said the odor is believed to be the result of “temporary weather conditions” including high humidity, fog, and high pressure. The department noted their meteorologists said these factors caused odors to linger “close[r] to the ground” for longer periods of time. “Those weather conditions have changed, and the odors have dispersed,” the Shelby County Health Department said in a statement. The department said their team will continue to work with local officials to deal with possible sources. Complaints about a smell permeating around Memphis surfaced over the weekend on social media. A Reddit thread with over 120 comments discussed the odor. “I’ve lived downtown for over 15 years and this smell happens every once in a while, but tonight’s smell is the [worst] I’ve ever experienced,” one Redditor commented.

Memphis Flyer · Memphis, TN

Advocacy Groups Weigh in on MLGW Rate Hike Proposal

Memphis Light, Gas and Water’s (MLGW) price hike proposal will be voted on by city council this month, but advocates say it needs more work. In recent years, MLGW and local advocacy groups have clashed over multi-year rate hikes. “It’s painful any time we see increases, but we also want to make sure we have the infrastructure to prevent some of the challenges we don’t want to have to have,” said Memphis Mayor Paul Young in a media meeting on November 9th. Local advocates argue the financial burden shouldn’t fall on residential households, and have called for doing away with the current declining block-rate structure while freezing residential rates. How Does This Compare to Current Rates or Previous Proposals? To understand the current situation, readers must look back several decades. Under a policy known as “Mission 2000,” MLGW maintained a “no rate increases period” for roughly a decade in an effort to keep Memphis among the cheapest utility markets in the country.

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