Google Ads Rolling Out Asset Studio (Beta)
Briefly

Google has started a beta rollout of Asset Studio to a subset of advertisers inside Google Ads. The tool appears under the Tools menu and provides capabilities to create and personalize images using Google AI. The feature also offers management of existing image assets within the Ads interface. The rollout follows an earlier announcement at Google Marketing Live and appears to be gradual, limited to some advertisers. Shared screenshots show the Asset Studio interface and options for AI-assisted image editing and organization.
Google seems to be rolling out the Asset Studio, in beta, to some advertisers now. I believe Google announced this at Google Marketing Live a few months back, and now some advertisers are seeing it in their Google Ads accounts. This was spotted by Govind Singh Panwar who posted on X that this feature was spotted in Google Ads "Under Tools." He said "you will find this Asset Studio where you can create, personalize your images with Google AI and manage your existing ones."
Here are his screenshots: Do you see it? Forum discussion at X.
Read at Search Engine Roundtable
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