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The Soviet Union and the United States built tens of thousands of nuclear weapons.
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Many people will argue the US, and that is the generally accepted answer, did.
However I pose an arguement. The USSR may have reformed into Russia, that does not by any means they lost as most people like to think. Americans won the race to the Moon, but today, Russia's military arsenal is twice the size of Americas. They have more tanks, more soldiers, and actually many people will argue more advanced nuclear weaponary.
Truth be told, there is no just "winner".
While the outcome of the Arms Race is rather murky, it would seem that the United States won. The government is still in place while Russia has seen monumental changes.
The United States and the Soviet Union developed the ability to completely destroy each other.
The nuclear arms race was the core of the cold war.
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Nuclear arms race was where Cold War was going with the belief that the more nuclear weapons you had, the more powerful you were