Update: After much speculation, it's official. Trinidad James has inked a deal with Def Jam Recordings. "Def Jam, thank you for believing," said Trinidad. The deal also includes a side venture with James' personal imprint "Gold Gang Records."

"We're excited to welcome a young talent like Trinidad James to the Def Jam family," said Def Jam president Joie Manda. "Def Jam prides itself as both a cornerstone of hip-hop's rich tradition, and as a vital, forward-thinking label dedicated to breaking and nurturing emerging artists. Trinidad James represents the cutting-edge of what's happening in the culture today. We are thrilled to have him at the label, and look forward to growing his already massive buzz."

Though the rumor yesterday was that James recieved $2 million for the deal, that has yet to be confirmed.

"All Gold Everything" rapper Trinidad James is riding high on a wave of popularity right now, and has reportedly inked a $2 million deal with Def Jam. According to XXL, label execs from Def Jam and Atlantic recently packed in Santos Party House to get a glimpse of the Atlanta rapper.

"Joie [Manda], Pecas, Chris Atlas, Barry Weiss on The Def Jam side & [Mike] Keyser on the Atlantic side at Trinidad James show," tweeted XXL's executive editor Jayson Rodriguez.

It's important to point out that Trinidad has only been rapping for 11 months, and recently dropped his first mixtape, Don't Be S.A.F.E., which spawned his hit track "All Gold Everything.

XXL reached out to Def Jam, but has yet to hear back from the label.

Source: globalgrind.com, billboard.com