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.