Of course, that doesn't mean that the two won't reconnect in the future -- as they have been known to do in the past.
"They will always be close. If they end up together, it could happen, but not now," a source tells Us Weekly.Another insider adds that 28-year-old Rihanna "doesn't want to be held down."
Though, according to People, Drake and Rihanna never actually broke up because their relationship has always been "open."
And Rihanna appears to be just fine on her own. She was spotted on Monday night headed to Avenue nightclub solo after a photoshoot at Milk Studios in New York City, ditching her long dreadlocks. The "Love On the Brain" singer showed off her toned legs in a sassy red fringe miniskirt and matching bright red heels.
Rihanna partied alone, staying out until about 4 a.m., an eyewitness tells ET. The singer also had a sweet interaction with a homeless man.
"As she left the club, a homeless man told her it was his birthday," the eyewitness says. "She goes up to her SUV to grab cash and buys a rose from another man selling roses and gives it to the homeless man, wishing him a 'Happy Birthday.'"
As for Drake, the "Summer Sixteen" rapper was last spotted with model India Love. A source tells E! News that the two have been "hooking up" for the last few weeks.
But has Drake's reported new fling rattled Rihanna? Last week, RiRi threw some serious shade at her exes, posting an Instagram message reading, "None of my exs are happy or in happy relationships so it's safe to say that I wasn't da problem lol."
Drake and Rihanna's latest round of flirtation started when the 29-year-old rapper boldly professed his love for Rihanna on stage at this year's VMAs, when he presented her with the Michael Jackson Video Vanguard Award. "She's someone I've been in love with since I was 22 years old," he gushed, prompting big cheers from the audience. "She's one of my best friends in the world. All my adult life, I've looked up to her, even though she's younger than me. She's a living breathing legend in our industry."
Later that month, a source close to Rihanna told ET that the two were officially "fully dating." "No one really knows how long they have been 'official' -- they just decided to let it become a thing instead of hiding it from everyone," the source said. "They're happy."
These days, the two seem to be focused on their careers. The superstars are both celebrating their multiple 2016 American Music Awards nominations, with Drake breaking the record for the most AMA nominations in a single year with a whopping 13 nods. Rihanna was the second most-nominated artist, with seven nods.
"So blessed to be the top female nominee for this year's #AmericanMusicAwards," Rihanna Intagrammed on Monday.
And who knows, maybe the AMAs will be the perfect place for the couple to reunite all over again.
Watch the video below to see Drake and Rihanna in happier times.