It was released through Boominati Worldwide and Republic Records as the second track from Metro's first soundtrack album, which was for the film Spider-Man: Across the Spider-Verse, on June 2, 2023.
The song was produced by Metro himself, Mike Dean, Peter Lee Johnson, and Scriptplugg, and the four wrote it with ASAP Rocky and Roisee.
In an interview, Metro Boomin talks about how he asked Johnson create some maximalist violins in the themes of 2010s era Kanye West.
[3] According to film co-writer and co-producer Phil Lord, Metro Boomin had texted him the strings sample and worked with producer MIKE DEAN to add the synths to the sample, creating what would later become "Am I Dreaming".
[1] In the first verse, ASAP Rocky raps from the perspective of Miles Morales from the film Spider-Man: Across the Spider-Verse using lyrics like "Count up my ones, lacin' up my favorite 1s" and "Kiss my momma on the forehead 'fore I get the Code Red / And swing by 410, beef patty, cornbread".