Del Rey was spotted leaving a hotel with the Guns N' Roses frontman before they climbed into an SUV together on Friday (April 6), fuelling rumours that they are seeing each other.
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When asked if the couple are an item, Ashba told TMZ: "I don't think they're dating."
He added: "Axl's a really cool dude and he likes to hang out with really cool people.
"I'm sure they're just buddy-buddy, hanging out."
Del Rey recorded the track 'Axl Rose Husband' as Lizzy Grant before making it big.
Guns N' Roses' current lineup will embark on a UK tour throughout May.
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Listen to Lana Del Rey's 'Axl Rose Husband' below:
