It has been claimed that the pair are both "acknowledging that it simply was not the right time for their relationship to take off", with TMZ alleging that that they still "have love for each other".
On one hand, it shouldn't be surprising: Two 24-year-old celebrities get engaged after dating for just a few weeks.
Meanwhile, Davidson bought an engagement ring worth $100,000 for Grande.
Sources close to AG and PD tell us.More news: President Trump Signs Landmark Music Act Into Law
People: "Ariana Grande and Pete Davidson Split, Call Off Engagement: 'Too Much Too Soon, ' Says Source".
"Someone I'm very close to was supposed to come sing for you today, and because of things that she's going through, she couldn't be here today", manager Scooter Braun told the audience, according to E! "Like, if we break up, and we won't - we will - but we won't". And Grande told British Vogue in May that she was still suffering from post-traumatic stress syndrome stemming from the suicide bombing that killed 22 people at her 2017 concert in Manchester, United Kingdom.
In September, Grande's team revealed that she was taking some time off.
Her manager Scooter Braun alluded to her in a speech at the gathering, saying Grande was going through a hard time.