Yesterday, it was reported Nick Cannon plans to sue ViacomCBS for $1.5 billion.

Last month, the entertainment giant had fired Cannon from Wild 'N Out" -- a show he created -- for his anti-Semitic and anti-white comments.

Today, Cannon dismissed those reports.

Nick's team reached out to TMZ and said Nick is not considering suing Viacom.  Instead, he is "focusing on bringing people together and fighting bigotry, racism, and hate" and isn't thinking about any legal paydays.