Google almost gave up on this one, so i decided to build it myself
What works:-
1. IDE and compiler, solved all performance issues with coding and compiling
2. XML previews
3. Jetpack Compose Previews

What isn't supported yet:-
1. Android Emulator, you will need a physical device to test.

Known issues:-
1. Gradle project is imported every time you open it in android studio

Download link: https://github.com/DevanshSampat/android-studio-arm64-releases

All repositories required for building Android Studio are on my github: https://github.com/DevanshSampat?tab=repositories&q=android-studio&type=&language=&sort=

Enjoy Devs ;)