[4] "Diet Pepsi" received widespread critical acclaim unlike the former, and charted in several countries worldwide.

[6] Critics praised Rae's vocal performance and use of modulation, and compared the song favorably to the early work of Lana Del Rey.

Columbia Records CEO Ron Perry, whom Rae knew through her boyfriend Omer Fedi, set up a meeting with her following the release of her debut extended play (EP) AR (2023).

[15][16][17][18] Some drew positive comparisons to the music of Lana Del Rey, particularly her 2012 single "Blue Jeans" and its parent album Born to Die (2012).

[33] The official music video was released alongside the song on August 9, 2024, and was directed by Sean Price Williams.

The video opens with Rae teasing her next single "Aquamarine" and continues with her having fun in a car in her bra and underwear, alongside her male love interest portrayed by Drew Van Acker.

[35] Rae performed "Diet Pepsi" along with Charli XCX and Troye Sivan during the Sweat tour, at Madison Square Garden, New York City on September 23, 2024.