Worldwide spending on nuclear weapons reaches a record high as nine nuclear-armed states increase investment in their arsenals, according to studies released in Geneva and summarized by multiple outlets. The International Campaign to Abolish Nuclear Weapons (ICAN) reports that these countries collectively spend nearly $119 billion on nuclear weapons, up about 19% from 2024 (an increase of roughly $17 billion). The studies say much of the rise comes from countries moving more warheads from storage onto delivery systems and accelerating modernisation efforts. A separate assessment by the Stockholm International Peace Research Institute (SIPRI) also points to rising nuclear risks amid heightened geopolitical tensions. Both reports describe a worsening security environment in which states appear to be preparing for longer-term nuclear capability upgrades. ICAN warns that a new nuclear arms race is underway and says the spending trend is expected to continue for decades. One ICAN representative also highlights concerns that advances in artificial intelligence could increase risks related to nuclear weapons use. The reports characterize the spending increases as a sign of escalated readiness and modernization rather than a reduction in nuclear stockpiles.