There's a non- Jewish-vs-Muslim argument: no country that does not today have nukes should be allowed to develop them. Hold the line. It may not be "fair", but it's safer for the world.
Although the Arab nations have tried repeatedly to destroy Israel they are not afraid of Israel using the bomb against them. Nor can they conquer Israel because Israel has the bomb. Hence it provides an excuse to never start another war with Israel.
The Saudis and other Sunni Arab countries are terrified of a nuclear Shia Iran and would build their own bomb if Iran had one. As one might imagine, the Saudis are very supportive of Israel's efforts against Iran.