It seems like Rafael Rafael Leão is staying at Milan despite all those rumours.
https://x.com/FabrizioRomano/status/1942187121143402510Fabrizio Romano says that Allegri confirms his staying.

I'm not surprised though. Allegri is an important figure for Milan as well. I was expecting him to have some good influence on the talented players in the squad.
If he wants to build a stronger squad then the first thing to do is to keep your best players...
Watch closely, AC Milan are having some terrible time, they couldn't established some good runs for the scudetto nor have a good place on the Seria A table. AC Milan headcoach, Massimiliano Allegri is not comfortable with his squad, he's probably going to make more signings for the club, atleast it will keep the club performance in heightened form and also exploring chances for greatness. AC Milan was relenting in previous season, their performance was classified low and not been able to match the outstanding performance expected of them.
AC Milan frontline, Rafael Alexandre Conceiçăo Leăo is crucial player for AC Milan. There have always been a player in the club especially in the frontline raising the hopes of the players. He's young and agile, always ready for the big running, he won't relent and watch his potential been dropped. He's definitely going to step out and play good football.
For Rafael Alexandre Conceiçăo Leăo exits, I don't think that will move will happen anytime soon.