Leonardo DiCaprio might be the king of the Coachella scene, but he hasn't found his queen just yet.

The Oscar winner raised eyebrows over the weekend when he was photographed alongside supermodel Irina Shayk at the music festival in Indio, Calif. But before any relationship rumors start, a source exclusively tells E! News that the stars weren't getting cozy.

"They were amongst a large group of people at a festival, all hanging out," the insider notes. "They are just friends."

E! News has reached out to reps for DiCaprio and Shayk for comment.

The pair were spotted together at Coachella's annual Neon Carnival, presented by Levi's and Don Julio Tequila. Other names on the April 15 event's star-studded guest list included Lil Nas X, Janelle Monáe, Camila Cabello, Future, Teyana Taylor, Shay Mitchell, Anderson .Paak, Nina Dobrev, Shaun White, Olivia Culpo, Tinx and Alix Earle.

One star not in attendance at this year's festivities was Gigi Hadid, who's been spotted spending time with DiCaprio in recent months.

Although the pair has yet to publicly address their status, a source previously told E! News in October, "Gigi and Leo are having a lot of fun right now. They have been trying to stay low-key and private and she has been enjoying the time they have been spending together."

After for Shayk, she and her ex Bradley Cooper—who are parents to 6-year-old daughter Lea—sparked reconciliation rumors at the end of 2022 after multiple sightings together around New York City.

Though a source exclusively told E! News in November that there was "nothing official" to share about their relationship status.

"They never stopped loving and caring about each other," the insider shared of the former couple, who called it quits in 2019. "They love their daughter and being a family. They enjoy spending time together and are doing more of it lately. They are in a great place and very happy."

As Shayk and DiCaprio's weekend with friends at Coachella comes to an end, see more stars who enjoyed the first weekend of the festival below!

The Euphoria actress gives a surprise joint performance with the British musician, marking her return to a music stage for the first time in eight years.

Jisoo, Jennie, Rosé and Lisa appear together.

The '80s rocker addresses the crowd.

The singer performs with her supergroup.

The star performs during weekend 2.

The singer smiles onstage.

at Revolve Festival with BÉIS x Wanderlust 

at Levi's brand presents Neon Carnival with Tequila Don Julio

at evian's Club Hydration at TAO Desert Nights

at Amazon Music and Donavan's Yard Coachella after-party

at Lucky Brand Desert Mirage

at Lucky Brand Desert Mirage

at Flying Embers presents The Racquet Club

at Flying Embers presents The Racquet Club

DJ PEE WEE (a.k.a. Anderson .Paak) celebrates Cap’n Crunch’s 60th Birthday at Cap’n’s Cove during Coachella Weekend 1.

at Levi's brand presents Neon Carnival with Tequila Don Julio

at Levi's brand presents Neon Carnival with Tequila Don Julio

at H&M Poolside Brunch

at Soho Desert House with CIROC Honey Melon

at CELSIUS Oasis Vibe House. Ariana wearing Butterfly belt by Streets Ahead.

at The Zoe Report's Zoeasis

at The Zoe Report's Zoeasis

The Mean Girls: The Musical actress celebrates Cap’n Crunch’s 60th Birthday at Cap’n’s Cove in Palm Springs.

at The Zoe Report's Zoeasis

at Playboy After Dark presented by London Alley

at the Heineken House

at Dickies x OCA Coachella Brunch 

at Neutrogena Skin's Vitals Experience

at Sonic Desert Oasis presented by Coca-Cola Creations