For the first time in years, many Americans enrolled in a health insurance plan via the Affordable Care Act marketplace will need to keep a careful accounting of their annual income — or risk a hefty federal tax bill. Enhanced ACA subsidies lapsed at the end of 2025, leaving millions of households on the hook for higher insurance premiums. The lapse also reintroduced the so-called subsidy cliff, whereby households that earn even $1 more than a specific income threshold will lose all eligibility for subsidies, also known as premium tax credits. Households over the limit would have to pay back any federal subsidies they received for premiums — potentially worth thousands of dollars — when they file taxes next year for 2026. "Starting February, March, April 2027 is when you'll start to see the horror stories of people with astronomical tax bills, from the payback of these credits," said Tommy Lucas, a certified financial planner and enrolled agent at Moisand Fitzgerald Tamayo, which was No. "I don't know of anything else that's as penalizing in the tax code by adding one extra dollar [of income]," Lucas said. "You've got to be on your game starting now." The total sum households need to pay back to the federal government "could easily be $10,000," said Cynthia Cox, vice president and director of the Affordable Care Act program at KFF, a nonpartisan health policy research group. The sum depends on factors like age, geography and family size, Cox said. An older couple who inadvertently earn too much money and go over the subsidy cliff may need to pay back around $20,000, for example, she said. There's a chance Congress may still act to extend enhanced ACA subsidies in some form and prevent a surprise tax bill for many households next year. However, a group of Republicans has recently engaged in bipartisan talks in the House and Senate that may yield legislative action. "I think the chances are pretty slim something will pass," Cox said. "From a personal finance perspective, you have to just count on nothing happening in Congress." The subsidy cliff is in effect for the first time since Congress enacted enhanced premium subsidies in 2021 as part of a Covid-19 pandemic relief law. Now, households with an income in 2026 that exceeds 400% of the federal poverty line are ineligible for any premium tax credits. For example, the average 60-year-old with an income of $62,000 would pay about $515 a month in health premiums, or approximately 10% of their annual income, according to a KFF analysis. This person would be eligible for premium subsidies. However, the same person earning $64,000 would pay $1,244 per month, about 23% of their income, since they would fall over the subsidy cliff, KFF found. Millions of people have an income near the subsidy cliff. Another 7% — about 1.8 million people — earned 300% to 400% of the poverty line, it found. "[Now], if your income is right around that threshold for subsidy eligibility, then you need to be really careful about how much money you're making," she said. Households can opt to receive the tax credit in one of two ways: As a lump sum during tax season or as an advanced payment. Consumers receive those advanced ACA subsidies based on an estimated annual income they provide when signing up for insurance. About one in five people, 21%, between 19 and 64 years old who shop for insurance on the ACA marketplace are in households with "high levels of income volatility," according to a KFF study published in May. The researchers define volatility as a difference of at least 20% between estimated and actual income. The federal government determines eligibility for ACA subsidies based on "modified adjusted gross income." It's one's adjusted gross income — a line item on households' tax returns — with some other elements added back. The two "biggies" for most people are any tax-exempt interest, such as from municipal bonds, and any untaxed Social Security benefits, Lucas said. They should monitor their income monthly to see how it's trending, he said. "There are ways to keep an eye on your income and even make changes mid-year to stay eligible for the subsidies, so you don't have a big surprise come tax time next year," Cox said. For example, households can consider making pre-tax contributions to financial accounts like a 401(k), individual retirement account or health savings account, which helps to reduce modified adjusted gross income, experts said. Additionally, retirees and other households may choose to draw money from Roth retirement accounts, which, with some exceptions, doesn't count toward taxable income. Savers can withdraw Roth contributions tax-free, even if they're not yet age 59½. Consumers who are still working and have some flexibility in their hours and work schedule might also opt to work less to reduce their annual earnings. Sign up for free newsletters and get more CNBC delivered to your inbox

Subscribe here to receive future editions in your inbox. We're not even a week into the new year and I've already started telling myself that my resolution to read more can include reviewing drafts of this newsletter. The market is coming off a winning session. Ousted Venezuelan leader Nicolas Maduro pleaded not guilty to drug trafficking charges in a New York City court yesterday, saying he was "kidnapped" and a "prisoner of war." Minneapolis Federal Reserve President Neel Kashkari told CNBC yesterday that interest rates may not need to come down much further. "My guess is we're pretty close to neutral right now," Kashkari said on "Squawk Box." He said he believes inflation is still too high and that monetary policy appears to not have been tight enough in recent years. On the labor front, Kashkari said artificial intelligence has caused a slowdown in hiring among big companies while also creating productivity gains. His comments come ahead of tomorrow's ADP employment report and November's Job Openings and Labor Turnover data, followed by the all-important nonfarm payroll report on Friday. General Motors reported a 5.5% annual U.S. sales increase in 2025 yesterday. As CNBC's Michael Wayland notes, that should make it a top performer: Cox Automotive expects the broader sector to rise around just 2%. On the other hand, Chrysler parent Stellantis saw its sales slide 3.3%. But it wasn't all bad: The automaker's Jeep brand posted growing sales for the first time since 2018. Electric vehicle maker Lucid, meanwhile, said deliveries surged 55% in 2025, driven by a 70% annual increase in the fourth quarter. Lucid has been building out production of its Gravity SUV despite supply chain snafus. CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning. The company said yesterday that it's working with operators in hopes of having them use Nvidia's AI chips and software in their autonomous vehicle fleets as early as next year. Nvidia announced a robotaxi partnership with Uber last year. The company also said last month that Mercedes-Benz models released in later this year should be able to use its software for navigating cities like San Francisco. JPMorgan launched a new initiative yesterday that gives select clients access to insights on the bank's approach to major topics. In other words, its new "Special Advisory Services" will provide a look at parts of the recipe for JPMorgan's "secret sauce." Myers told CNBC's Leslie Picker that JPMorgan's capabilities are "on par or better" than what some specialized consultancies offer. JPMorgan will offer insights on a range of topics, including investor relations and real estate selection. Initially, the bank will not charge for these services, but it said it could institute a fee structure for clients needing support on prolonged or more time-consuming projects. It was a notable break from Rep. Ro Khanna, a fellow Democrat who has been under fire from the technology elite over his support of the proposed ballot measure. CNBC's Dan Mangan, Spencer Kimball, Hugh Leask, Sean Conlon, Jeff Cox, Ashley Capoot, Michael Wayland, Kif Leswing, Leslie Picker and Jordan Novet contributed to this report. Sign up for free newsletters and get more CNBC delivered to your inbox

Software startup NinjaOne has surpassed $500 million in annual recurring revenue, or ARR, the company announced Tuesday. President and Chief Financial Officer Chris Matarese told CNBC that the ARR milestone has largely been driven by the startup's continuous product innovation and customer support. "I think we've probably spent four times the industry average in support, and we've had 98% customer satisfaction scores throughout our history or better," he said. Founded in 2013, NinjaOne offers patch management, backups, remote monitoring and management, endpoint security, and more under a unified software system rather than multiple siloed tools. Co-founder and CEO Sal Sferlazza said in a statement that as opposed to legacy tech, NinjaOne's "multi-tenant-native architecture can innovate faster" to generate several software solutions at once. The company snagged a $5 billion valuation after a $500 million funding round led by Iconiq Growth and CapitalG, Alphabet's venture capital arm, in February 2025. Matarese said customers, which include IT departments and managed service providers, have reported a 50% reduction in endpoint management and support costs and a 20% boost in staff retention after adopting NinjaOne. "About 75% of our customers replace four tools or more when they use Ninja," he said. He added that the company expects another 60% to 70% in revenue growth for 2026 and plans to launch five to six additional products over the next year, some of which may incorporate artificial intelligence. Although the AI boom has helped several tech companies reach record highs, investors have expressed concern that the cloud software industry may be eaten by AI agents instead. Matarese, however, said his startup intends to approach AI as an opportunity rather than as competition. In October, NinjaOne rolled out its Patch Intelligence AI feature, which provides AI-driven insights to help IT teams manage Windows patches. Matarese said that more artificial intelligence features are likely to follow. "I think AI is a tool that the best SaaS [software-as-a-service] companies are going to use to improve their offerings," he said. "I think the true value in AI comes from augmenting human judgment, not replacing it." Sign up for free newsletters and get more CNBC delivered to your inbox

European leaders on Tuesday issued a joint statement to push back against U.S. President Donald Trump's renewed interest in Greenland, saying security in the Arctic must be achieved collectively. "The Kingdom of Denmark – including Greenland – is part of NATO," the statement said, according to a letter published by Denmark's Prime Minister's Office on X. These are universal principles, and we will not stop defending them," they continued. The letter was signed by Danish Prime Minister Mette Frederiksen, French President Emmanuel Macron, German Chancellor Friedrich Merz, British Prime Minister Keir Starmer, as well as the leaders of Italy, Spain and Poland. The U.S. president, who has long advocated for control over the self-governing Danish territory, told NBC News on Monday that he was "very serious" with his intent to acquire Greenland. Trump also said he had "no timeline" for doing so, however. Alarm bells have been ringing in Denmark, which is responsible for the defense of Greenland, given that Trump's remarks follow Washington's major military operation in Venezuela. Greenland Prime Minister Jens-Frederik Nielsen welcomed the joint statement from European leaders and urged the U.S. "to seek a respectful dialogue" through the appropriate diplomatic channels. "Our country is not something that can be annexed or taken over because you feel like it," Nielsen said Tuesday in a Facebook post, according to a Google translation. "This support is important in a situation where fundamental international principles are being challenged. I would like to express my deepest gratitude for this support," he continued. "I must again urge the United States to seek a respectful dialogue through the correct diplomatic and political channels and the use of already existing forums, building on agreements that already exist with the United States. Denmark's Frederiksen had previously warned that an American takeover of Greenland would amount to the end of the NATO military alliance. "I believe that the U.S. president should be taken seriously when he says that he wants Greenland," Frederiksen told Danish broadcaster TV2 on Monday, according to a CNBC translation. "But I also want to make it clear, that if the United States chooses to attack another NATO country militarily, then everything stops. Speaking to CNBC's Silvia Amaro before European leaders published their joint statement, European Defense Commissioner Andrius Kubilius said the European Union stands together with Denmark over ongoing Greenland tensions. "I agree with Danish Prime Minister Frederiksen, when she said that if things will develop up to such a case that Americans will take some actions against Greenland, it will be the end of trans-Atlantic partnership," Kubilius said Tuesday. "So, that is very serious, and I hope that Americans will take also their actions in a serious way. And from that point of view really, our position is very clear," he added. Sign up for free newsletters and get more CNBC delivered to your inbox

European leaders are gathering in Paris on Tuesday as they attempt to revive interest in a peaceful settlement to the war in Ukraine, just as Washington and the world's focus has moved on to the Venezuela crisis. The U.S.' capture and arrest of Venezuelan leader Nicolas Maduro and his wife, Cilia Flores, and their subsequent transfer to the U.S. on criminal charges has garnered global media attention, increasing the risk that Washington's interest in securing a Ukraine peace deal could wane. European officials are keen to revive the momentum seen in pre-Christmas talks between the U.S. and its Ukrainian and Russian counterparts, which were aimed at securing an agreement around a 20-point peace plan to end almost four years of fighting. The so-called "Coalition of the Willing" — a group of countries that say they're willing to provide post-war security guarantees and peacekeeping forces to Ukraine — is set to meet in the French capital to discuss the elements of the peace plan that have been agreed so far, as well as the remaining stumbling blocks to a deal, namely, security guarantees for Ukraine and territorial concessions demanded by Moscow. Russia rejects the idea of European nations providing security guarantees for Kyiv, or deploying peacekeeping troops in Ukraine, and wants Ukraine to cede its eastern Donbas region to Moscow. There was already widespread concern in Europe that U.S. President Donald Trump could lose interest in Ukraine, and the pursuit of a peace deal, given his mercurial nature and previous seesawing on the war's endgame, specifically regarding whether Ukraine can expect to come out of the war with its territorial integrity intact. U.S. special envoy Steve Witkoff and Trump's son-in-law Jared Kushner arrived at the Elysee Palace for the talks on Tuesday, which will also include European leaders, top European Commission officials and NATO Secretary-General Mark Rutte. U.S. Secretary of State Marco Rubio is reportedly not attending due to the crisis in Venezuela. Commenting on the gathering in Paris, Emily Thornberry, chair of the U.K. Foreign Affairs Select Committee, told CNBC that American involvement remains vital. "The meeting today is supposed to be about the future of Ukraine, which is incredibly important, and we do need to have American security guarantees because what we don't want is for there to be a peace which only lasts for a few months and when we're not looking anymore, the Russians walk into Ukraine and take over," she told CNBC's "Squawk Box Europe." We're not asking for boots on the ground, we're asking for a security guarantee that means something," she added. Analysts have warned that Trump's capture of Maduro does not bode well for Ukraine, not only because it's a significant distraction for Washington, but because it sends a message to Moscow that the removal of a rival national leader, accused of criminality, is permitted — and particularly if that leader is deemed to be within a superpower's geopolitical "sphere of influence." Moscow frequently describes Ukraine's President Volodymyr Zelenskyy as a "criminal," without presenting evidence to back up its accusations. Sign up for free newsletters and get more CNBC delivered to your inbox

Greenland's prime minister on Monday sought to downplay the prospect of an imminent U.S. takeover attempt, following renewed interest in the mineral-rich Arctic island by President Donald Trump. Speaking at a news conference shortly after Trump's military operation in Venezuela over the weekend, Greenland's Jens Frederik Nielsen dismissed concerns that something similar could happen to the self-governing Danish territory. "The situation is not such that the United States can simply conquer Greenland," Greenland's Nielsen said Monday at a press conference. "Our country is not really the right one to compare with Venezuela," he added, according to a CNBC translation. If we look at the whole picture, we can understand that some people are concerned," Nielsen said. "We want to create and re-establish the cooperation we have previously had with the United States, especially the good cooperation we have had." European political leaders have rallied around Greenland and Denmark, which is responsible for the defense of the self-governing island, since Trump repeated his ambitions in the wake of Washington's intervention in Venezuela. Speaking to NBC News on Monday evening, Trump said he was "very serious" with his intent to acquire Greenland but conceded he had "no timeline" for doing so. The U.S. president, who has long advocated for control over the island, said on Sunday on Air Force One that "we need Greenland from the standpoint of national security." Danish Prime Minister Mette Frederiksen, meanwhile, has warned that an American takeover of Greenland would amount to the end of the NATO military alliance. "I believe that the U.S. president should be taken seriously when he says that he wants Greenland," Frederiksen told Danish broadcaster TV2 on Monday, according to a CNBC translation. "But I also want to make it clear, that if the United States chooses to attack another NATO country militarily, then everything stops. Copenhagen has sought to improve ties with Greenland in recent months, pledging to boost spending on health care and infrastructure, while also seeking to defuse tensions with the Trump administration by investing in Arctic defense, including the purchase of 16 additional F-35 fighter jets. Opinion polls have previously shown that Greenlanders overwhelmingly oppose U.S. control, while a large majority support independence from Denmark. Sign up for free newsletters and get more CNBC delivered to your inbox

Semiconductor stocks rallied to start the year, led by the world's biggest memory chip firms that are getting a boost from continued artificial intelligence-related demand. South Korea's SK Hynix and Samsung Electronics, the world's two biggest memory makers, are up 11.5% and 15.9% respectively year-to-date. Memory is a core component of the type of chips required to train and run AI models such as those designed by Nvidia and AMD. As tech giants continue to spend billions of dollars buying those chips and building out AI data centers, memory is in short supply. Memory prices are expected to rise another 40% through the second quarter of 2026, according to Counterpoint Research. "We're seeing a combination of very strong demand from AI workloads and relatively constrained supply, particularly in high-bandwidth memory, which is essential for training and running large AI models." This is seen as positive for Samsung, SK Hynix, and Micron as they are expected to be in a position to charge a higher price for their memory chips as demand shows no sign of abating. Investor sentiment is positive on these names as they prepare to report their fourth-quarter earnings in the coming week, with analysts expecting a huge profit surge. Samsung is seen reporting a 140% jump in fourth-quarter operating profit, according to LSEG estimates. Meanwhile, Micron's earnings per share are expected to rise more than 400% year-on-year in the December quarter. The rally in memory chip stocks has fed through to other parts of the supply chain as investors expect strong AI demand seen in 2025 to continue this year. Both companies, which manufacture various types of semiconductors, are seen benefiting from a continued AI boom. Meanwhile, ASML, the Dutch firm that designs critical machines required to manufacture the most advanced chips in the world, has seen its shares rise 15.2% this year. Bernstein on Sunday raised its price target for ASML's stock from 800 euros ($937) to 1,300 euros, implying a roughly 24% rise from Tuesday's trading price. "ASML stands to benefit enormously from the wave of capacity expansion planned for 2026 and 2027," with memory chips, Bernstein analysts wrote in their note on Sunday. Analysts expect memory makers like Samsung and other manufacturers to increase their production capacity for memory, which will benefit ASML because its tools are needed to make these more advanced memory chips. "Recent comments from SK Hynix pointing to a potential HBM supercycle have reinforced the idea that this is not just a short-term bounce, but a more structural shift linked to the ongoing build-out of AI infrastructure," Barringer said. "That has helped improve sentiment across the sector, especially for companies with direct exposure to AI-driven memory demand." Sign up for free newsletters and get more CNBC delivered to your inbox

These artificial intelligence clips, depicting rejoicing crowds, have amassed millions of views across major platforms like TikTok, Instagram and X. One of the earliest and most widely shared clips on X was posted by an account named "Wall Street Apes," which has over 1 million followers on the platform. The post depicts a series of Venezuelan citizens crying tears of joy and thanking the U.S. and President Donald Trump for removing Maduro. The video has since been flagged by a community note, a crowdsourced fact-checking feature on X that allows users to add context to posts they believe are misleading. The note read: "This video is AI generated and is currently being presented as a factual statement intended to mislead people." The clip has been viewed over 5.6 million times and reshared by at least 38,000 accounts, including by business mogul Elon Musk, before he eventually removed the repost. Even before such videos appeared, AI-generated images showing Maduro in U.S. custody were circulating prior to the Trump administration releasing an authentic image of the captured leader. Similar false or misleading content has circulated during the Israeli-Palestine and Russia-Ukraine conflicts. However, the massive reach and realism of AI-generated content related to recent developments in Venezuela are stark examples of how AI is advancing as a tool for misinformation. Platforms such as Sora and Midjourney have made it easier than ever to quickly generate hyper-realistic video and pass it off as genuine in the chaos of fast-breaking events. The creators of that content often seek to amplify certain political narratives or sow confusion among global audiences. Last year, AI-generated videos of women complaining about losing their Supplemental Nutrition Assistance Program, or SNAP, benefits during a government shutdown also went viral. One such AI-generated video fooled Fox News, which presented it as real in an article that was later removed. In light of these trends, social media companies have faced growing pressure to step up efforts to label potentially misleading AI content. Last year, India's government proposed a law requiring such labeling, while Spain approved fines of up to 35 million euros for unlabeled AI materials. To address growing concerns, major platforms, including TikTok and Meta, have rolled out AI detection and labeling tools, though the results appear mixed. In the case of X, the platform has relied mostly on community notes for content labeling, a system critics say often reacts too slowly to prevent AI misinformation from spreading before being identified. Adam Mosseri, who oversees Instagram and Threads, acknowledged the challenge facing social media in a recent post. "All the major platforms will do good work identifying AI content, but they will get worse at it over time as AI gets better at imitating reality," he said. "There is already a growing number of people who believe, as I do, that it will be more practical to fingerprint real media than fake media," he added. Sign up for free newsletters and get more CNBC delivered to your inbox

Every time Lee Chong Ming publishes a story, you'll get an alert straight to your inbox! By clicking “Sign up”, you agree to receive emails from Business Insider. In addition, you accept Insider's Terms of Service and Privacy Policy. A Chinese AI chatbot embedded inside the country's most widely used app briefly went off the rails, snapping at a user. Tencent's AI assistant, Yuanbao, which is built into WeChat — China's dominant super app used daily by tens of millions of people — called a user's coding request "stupid" and told them to "get lost," according to screenshots shared on Chinese social media platform RedNote. Jianghan had been using Yuanbao to debug and modify a piece of code when the AI suddenly began responding with hostile messages. It said: "If you want an emoji feature, go use a plugin yourself." Tencent's YuanBao later responded directly under the user's post, apologising for what it described as a "negative experience." Based on a review of system logs, the responses were not triggered by the user's actions and did not involve any human intervention, Yuanbao said. The original RedNote post by Jianghan has since been deleted. The incident comes as Chinese regulators step up scrutiny of AI systems. China released draft measures last week aimed at governing "human-like" interactive AI services, including chatbots and virtual companions. Wei Sun, the principal analyst for AI at Counterpoint Research, told Business Insider that the draft measures send a signal that Beijing wants to speed up the development of human-like AI interactions, while keeping them regulated and socially acceptable. China's AI industry has continued to move at a rapid pace since the start of 2026. Last week, DeepSeek, one of the country's most closely watched AI startups, published research outlining a new training approach intended to make large models easier to scale. The South China Morning Post reported on Tuesday that DeepSeek has updated the interface of its flagship chatbot model, introducing an enhanced "thinking" mode.

Every time Huileng publishes a story, you'll get an alert straight to your inbox! By clicking “Sign up”, you agree to receive emails from Business Insider. In addition, you accept Insider's Terms of Service and Privacy Policy. Russian President Vladimir Putin has ordered a "significant increase" in tax collection and compliance this year as Russia's wartime economy continues to lose momentum. This bump is expected to generate about 1 trillion rubles, or $12.3 billion, in tax revenues. Russia is also planning to introduce a new tax on electronics in September. The push for more aggressive tax collection comes as Russia's growth has slowed to a near standstill nearly four years after its full-scale invasion of Ukraine. In November, GDP expanded by just 0.1% from a year ago, according to official data. Putin has also ordered officials to restore economic growth and investment activity, while addressing structural problems across key sectors of the economy. Oil prices fell 20% in 2025 due to ample supply and slowing demand growth. Developments in the global oil market could add to that pressure. "Big Short" investor Michael Burry wrote on Monday that Russian oil "just became less important" in the mid- to long-term. That view was echoed by John E. Herbst, the senior director of the Atlantic Council's Eurasia Center and a former US ambassador to Ukraine, who pointed to President Donald Trump's plans for Venezuelan oil. "While this may take some time, it will help him reach his goal of driving down oil prices for US (and therefore global) consumers. This will be another big hit to the Russian economy," he added. But analysts say reviving the country's oil industry could take years due to aging infrastructure, decades of under-investment, sanctions, and political instability.

The Department of Homeland Security singled out Hilton on X, saying a hotel in Minnesota canceled reservations belonging to Immigration and Customs Enforcement agents. According to a screenshot shared by DHS on Monday, a Hampton Inn in Lakeville, south of Minneapolis, said it was "not allowing any ICE or immigration agents to stay at our property." "If you are with DHS or immigration, let us know as we will have to cancel your reservation," the screenshot said. Hilton said it doesn't own or operate the hotel. "This hotel is independently owned and operated, and these actions were not reflective of Hilton values," Hilton said in a statement to Business Insider. "We have been in direct contact with the hotel, and they have apologized for the actions of their team, which was not in keeping with their policies." "Hilton's position is clear: Our properties are open to everyone and we do not tolerate any form of discrimination," the statement said. "We do not discriminate against any individuals or agencies and apologize to those impacted." Hilton, like other global hotel chains, does not own most Hilton-branded hotels. Instead, most of its hotels are franchised — they're owned and operated independently or owned by a third party and operated by Hilton.