11:50 AM PT -- A source close to the couple tells us the two are NOT engaged.
Austin Butler and Kaia Gerber are all the rage on the internet right now ... because there's a huge buzz about a potential engagement.
There's tons of speculation online that the "Elvis" star may have popped the question to his model girlfriend ... and it's a pretty juicy rumor, which may have some legs.
Austin and Kaia getting engaged isn't all that far-fetched ... they've been dating since December 2021 and he was recently spotted helping her move into a new home. It's unclear if Austin and Kaia are living there together, but they seem to be inseparable.
The rumors reached a head Thursday when Deuxmoi claimed Austin proposed to Kaia in April and they've been keeping their engagement under wraps.
Before going public with their relationship at the 2022 Met Gala in New York City, Austin and Kaia reportedly jetted off to Paris for Valentine's Day. They kissed for cameras at the 2022 Cannes Film Festival and she was by his side in January when he won a Golden Globe award for his performance in "Elvis."
As we reported ... after Austin's big movie went 0 for 8 at the Oscars, he flew down to Los Cabos to lounge poolside with Kaia.
The jet-setting lovebirds went to the Time100 Gala last month in the Big Apple, but they haven't been photographed in public since April 27, which adds more intrigue.
Ya gotta wonder if they are hanging back and planning a big announcement.
Originally Published -- 10:59 AM PT