"They’re going to drop some surprise project on everybody. They’re recording it now," a source told the publication.
The two Hip Hop artists are longtime collaborators. West is credited as introducing the Cleveland rapper/actor to a mainstream audience, and Cudi served as a co-writer on several Ye albums, most notably on 808s & Heartbreak.
"It was likely something that was lingering, but not as serious as it seemed. Kanye’s always airing out whatever he’s thinking onstage, but they’ve always been close," added the Page Six insider about the perceived bad blood between the two Grammy winners.
Photos of Kanye and Cudi outside a Los Angeles recording studio surfaced back in July. Their mutual friend Plain Pat was also seen in the pictures.