Emma was snapped at an ice hockey match at Madison Square Garden in New York with Rafael Cebrian, son of a wealthy Spanish media owner and drummer in band The Monomes.
The 19-year-old's representative has declined to comment on the pair, who are both studying at the prestigious Ivy League Brown University.
It's also not known if Emma has ended her relationship with Jay Barrymore.
The 26-year-old banker was said to be "convinced" that he had to join her in the States or "an American hunk will try to sweep her off her feet".
Emma chose to study in the US rather than take up a place at Trinity College, Cambridge, because she wanted to study "out of the spotlight".