The Gunners are expected to prioritise adding an attacker when the market reopens after a summer in which they did not bring in another forward. Gabriel Martinelli, Leandro Trossard and Gabriel Jesus have all left permanently, leaving questions over the depth of Mikel Arteta's attacking options.
Reports have linked Arsenal with Bournemouth's Eli Junior Kroupi and Juventus youngster Kenan Yildiz, but the club are also understood to have been watching Nusa during the current campaign.
The Norway international has made an impressive start to the season, recording six goals and seven assists in 14 appearances across all competitions. Primarily a left-sided attacker, the 21-year-old can also operate on the right, giving Arteta another option across the forward line.
Nusa was on target for Leipzig in their 3-2 Champions League defeat against Manchester City on Wednesday, further drawing attention to his performances. His form has also prompted discussion among Arsenal supporters about the possibility of a move to north London.
However, the reported interest does not mean Leipzig are ready to negotiate. The Bundesliga club regard Nusa as an important member of their squad and are reluctant to lose him during the middle of the season.
Their position has also been strengthened by the sale of Yan Diomande to Real Madrid in the summer for a reported fee of around £120 million. That deal means Leipzig are not under financial pressure to sell another attacking player, making it harder for Arsenal to prise Nusa away in January.
The Sun reported Arsenal's interest and said the club had been scouting the Norwegian this season. Any approach would therefore face the challenge of persuading Leipzig to part with a player they consider central to their plans.
For Arsenal, the attraction is clear: Nusa offers pace and versatility on either flank, alongside a strong early-season contribution in front of goal. But with RB Leipzig unwilling to weaken their squad midway through the campaign, the Gunners may have to consider whether a deal is more realistic in a later window.