The stars were both guests at the Vanity Fair Academy Awards afterparty in Hollywood, and cut through any tension by chatting to each other upon their arrival.
An eyewitness tells People.com, "They were outside near the restroom having a discussion. It seemed a bit more serious - it certainly wasn't a, 'Hi, how are you?' talk." Swift and Gyllenhaal enjoyed a brief romance last year (10) before splitting in December (10). The blonde singer has since been linked to Glee star Chord Overstreet.