The film's title is a reference to the song "Armagideon Time" by The Clash, as well as a reference to Ronald Reagan, who James Gray said was "always talking about the armageddon." He said Reagan was, "always mentioning the world ending. It was cultural trauma. That weighed on kids in 1980. In the [Reagan interview] clip you see in the movie, he's actually talking about Armageddon as a result of homosexuality, which is crazy. He's talking about Sodom and Gomorrah."
This is James Gray's first digitally shot film. According to Gray (who's open about his preference for 35mm film), he and cinematographer Darius Khondji wanted to shoot on film but weren't able to due to a variety of reasons, one of which is likely problems caused by the COVID-19 pandemic, which temporarily shut production down or limited budget. However, Khondji managed to secure lenses from the 1970s, which Gray used in the film.
When the project was first announced, Oscar Isaac, Robert De Niro, and Cate Blanchett were cast in the lead roles. They dropped out and ended up being replaced by Jeremy Strong, Anthony Hopkins, and Jessica Chastain. Donald Sutherland was also announced as initially being part of the cast but did not end up in the film. It's unclear what part Donald Sutherland would have played.
Received a 7-minute standing ovation after its screening at Cannes 2022.
Focus Features bought the international distribution rights for $15 million.