It was released on January 10, 2020, by Atlantic, as the lead single from the soundtrack to the film Birds of Prey.

[4] "Diamonds" was written by Edgar Machuca, Jule Styne, Kameron Glasper, Leo Robin, Louis Bell, Madison Love, Megan Thee Stallion, Mike Arrow, Normani, Santeri Kauppinen, and Tayla Parx; it was produced by Bell and MD$.

[5] "Diamonds" is a pop and hip hop song with lyrics of female empowerment and moving on from a relationship.

Harper's Bazaar's Erica Gonzales wrote that "the high-energy track is a perfect fit for Megan's razor-sharp flow, while Normani gracefully interpolates Marilyn Monroe's "Diamonds Are a Girl's Best Friend" in the melody".

[11] The video sees the artists in a "dark" amusement house spliced with scenes of the film, including a sequence of Harley Quinn which was inspired by Marilyn Monroe's version of "Diamonds Are a Girl's Best Friend" from the 1953 film Gentlemen Prefer Blondes.