Global spending on nuclear weapons surged to a record high of nearly $119 billion in 2024, reflecting a 19% increase from the previous year, according to the International Campaign to Abolish Nuclear Weapons (ICAN). This alarming trend signals the onset of a new nuclear arms race, particularly as geopolitical tensions escalate. The United States led the expenditure with over $69.2 billion, while China followed with approximately $13.5 billion. Despite a decline in the total number of nuclear warheads, the number of weapons ready for potential use has risen to 9,745. Experts warn that the breakdown of strategic arms controls and increased competition among nuclear powers could lead to a significant rise in nuclear stockpiles in the coming years. Additionally, long-term projections indicate that nuclear arms spending could reach nearly $1 trillion between 2025 and 2034, with investments expected to continue well into the next century. ICAN highlights the stark contrast between these military expenditures and the urgent humanitarian needs globally, emphasizing the disconnect in priorities among nuclear-armed states.