The rapper, 30, purchased the Tiffany Victoria necklace for $100,000, PEOPLE can confirm. Lopez wore the 17″ diamond strand— which features over 15 carats worth of round, pear and marquise-shaped diamonds set in platinum — on New Year’s Eve as seen in the photo above. (Tiffany & Co. did not offer comment.)
The 47-year-old singer attended Drake’s New Year’s Eve show at the Hakkasan Las Vegas nightclub, cheering him from the audience and fueling dating rumors even further.
Romance speculation first sparked when the musical duo posted the below cuddly photo on Instagram, teasing an upcoming collaboration. Then they were seen kissing on the dance floor at a winter wonderland holiday event, where they were appropriately crowned king and queen of the ball.
But don’t be fooled by the rocks that Drake gave her: They’re not in a rush to define their relationship.
“Jennifer and Drake seem really happy,” a source recently told PEOPLE. “Friends have no idea where the relationship is going.”