Justin and Ashley were recently spotted together at the Greenwich Hotel, an SNL afterparty, two Broadway shows and a polo match outside New York.
“They are hooking up,” US Weekly reports.
The two have just ended high-profile relationships: Timberlake had been with Jessica Biel for 4 years, while Olsen has dated actor Justin Bartha for two years.
“They’re really trying to keep it on the down-low,” adds another insider.
However, a source close to Ashley says that she is “aware of Justin’s reputation with women, but…They’re in the same head space.”