While the two have seen one another several occasions, a source close to Leo says the 47-year-old isn't exactly jumping back into a serious relationship. "He's enjoying being single," the insider notes, adding that Leo and Gigi, 27, are "not exclusive."
Similarly, a source close to Gigi tells E! that "neither of them want a relationship" at the moment. "Gigi and Leo have hung out multiple times and are into each other. Gigi thinks he's a really cool guy," the second insider says. "Majority of their hangouts have stemmed from being in the same social circles at various parties."
Indeed, Leo has been out and about since his breakup with Camila. On Aug. 30, the Don't Look Up star was spotted grabbing some food with friends at Il Buco in New York City. For the casual lunch, Leo donned a white T-shirt and green shorts, as well as a baseball cap and protective face mask.
While neither Leo or Camila have publicly addressed their split, a separate source previously told E! News that the pair called it quits because their relationship "ran its course."
"They have both been traveling a lot and distance played a factor," the third insider shared, saying that though there's a possibility of reconciliation in the future, the couple is "not on."
E! News reached out to reps for Leo and Gigi but did not receive comment.