Both The Weeknd, 30, and Ricch, 22, have eight nominations and Megan Thee Stallion is the next leading nominee with five, including for new artist of the year.
Other contenders include Ricch, Lewis Capaldi, Doja Cat, DaBaby and Lil Baby.
This year’s ceremony will feature several new categories, including new rap and hip-hop honors and several new awards for Latin music.
The AMAs will be held at Los Angeles’ Microsoft Theater and air live on ABC on Nov. 22.
Most music awards shows have foregone live audiences or moved performances outdoors as a precaution against the coronavirus. Many, like the BET Awards, Country Music Awards and MTV Video Music Awards, have opted for a mix of live and pre-taped performances.
Several nominees were announced by Dua Lipa on “Good Morning America.”
Swift has the chance to extend her lead as the most awarded artist in AMA history – she already has 29 wins.
Swift, 30, Bieber, 26, Lady Gaga, Bad Bunny, DaBaby, 28, and Doja Cat, 24, all have four nominations apiece.
Billie Eilish, an awards favorite since her sweeping wins at the Grammys, scored two nominations, for favorite alternative rock artist and favorite social artist.
Kanye West earned a nomination for favorite contemporary inspirational artist. If he wins, it would be his first AMA win in a dozen years.
Dan + Shay earned three nominations, including for favorite country duo or group, where they’re up against Florida Georgia Line and Old Dominion.
Harry Styles could pick up his first solo award at the ceremony for his album “Fine Lines.”
Juice WRLD, who died in December, received a posthumous nomination for favorite male rap/hip-hop artist.
The Associated Press contributed to this report.