"7 Rings" debuted at number one on the Billboard Hot 100. It became Grande's second number one single, where it spent 8 non-consecutive weeks at number one, becoming her longest running number one single to date. The song also topped the charts in several other countries including Australia, Canada, Czech Republic, Estonia, Finland, Greece, Hungary, Iceland, Ireland, Israel, Malaysia, New Zealand, Norway, Portugal, Singapore, Slovakia, Sweden, Switzerland and the United Kingdom, and reached the top 10 in Austria, Belgium, Denmark, France, Germany, Italy, Lebanon, Mexico, the Netherlands and Spain.
Grande first teased the track in the music video for "Thank U, Next", in which the first few seconds of the instrumental are used in the opening sequence, and the license plate of the car she drives reads "7 RINGS". The day after the video was released, Grande confirmed the existence of "7 Rings" and revealed the moment that inspired it on Twitter.
The singer described the song as "a friendship anthem", later posting the single's artwork on Instagram along with its release date, January 18.