Yes, a lab-grown diamond is a real diamond. A lab-grown diamond possesses the same physical, chemical, and optical characteristics as a diamond found in nature. Both diamonds are composed of carbon atoms linked together in a diamond cubic crystal lattice. 

The key difference lies in how they are created:

• Natural diamonds form over millions of years under extreme pressure and temperature deep within the Earth's mantle.
• Lab-grown diamonds are produced in controlled environments using two primary methods: High Pressure High Temperature (HPHT) or Chemical Vapor Deposition (CVD). These methods mimic the natural conditions that cause diamonds to form, but they happen much more quickly.

While lab-grown diamonds are true diamonds, they are regarded as more environmentally friendly and are comparatively cheaper than natural diamonds as they do not require extraction from mines.