Rich Fury/MTV VMAs 2020/Getty Images; Presley Ann/Getty Images Jaden Smith and Sofia Richie
Less than a week after the pair were spotted holding hands on the beach, the actor and musician, who recently released his third studio album CTV3: Cool Tape Volume 3, insisted that the pair are just old friends.
"You know, I actually don't look at the internet, so I didn't see that," Smith said on Friday's episode of On Air with Ryan Seacrest when asked about the romance rumors sparked by their day in the sun.
"But, me and Sofia have been friends for like 10 years. We've been going to the beach pretty consistently for 10 years too," he added. "But, yeah, we're just homies and we love each other and it was fun."
Richie and Smith, both 22, were photographed together over Labor Day weekend, weeks after her split from Scott Disick, 37.
"Sofia is having a fun summer," a source told PEOPLE. "She stays with friends in Malibu and enjoys the beach. There have been guys around that she acted flirty with, but she doesn't seem to be dating."
"The vibe was different over the weekend though when she hung out with Jaden," the source added. "They spent hours together on the beach. They kept flirting and hugging. Sofia looked very happy."
Later, the source said the pair had dinner with friends at Nobu. "It was obvious that they both loved hanging out. Jaden had his arm around Sofia and she had a huge smile."
RELATED VIDEO: Scott Disick and Sofia Richie Split Again, Sources Say: 'His Kids Will Always Come First'
Scott Disick and Sofia Richie Split Again, Sources Say: 'His Kids Will Always Come First'
The stars briefly reunited earlier this summer after taking time apart in May
A source told PEOPLE at the time that the pair had different priorities and couldn't make their relationship work.
"It's always been difficult for them to balance their relationship with Scott's family life," the source said at the time of Disick, who shares three kids with ex Kourtney Kardashian.
"Scott's focus is his health and the kids," added another insider. "Sofia wants to hang out with friends and enjoy the summer. Since they are no longer on the same page, they decided to just be apart. At least for now."