3D Studio MAX supports export to JPG, so it can be used to perform ASC to JPG conversion for its own ASCII scene file types. As for common ASCII to JPG conversion, there are various TXT to IMAGE converters that can help you with this.
Found 2 different conversion types using the same filename extensions.
Conversion asc to jpg type 1:
Convert from ASCII text to JPEG bitmap image format.
On-line services software - convert asc to jpg on web
An online text to image conversion service
File type (from-> to)
Convert from asc file format
JPEG bitmap image format
The tables with software actions are a good pointer for what a certain program does with various file types and often may give users a good hint how to perform certain file conversion, for example the above-mentioned asc to jpg. However, it is not perfect and sometimes can show results which are not really usable because of how certain programs work with files and the possible conversion is thus actually not possible at all.
Conversion asc to jpg type 2:
Convert from 3D Studio Max 3D ASCII scene to JPEG bitmap image format.
Microsoft Windows software - convert asc to jpg on Windows
A widely-used 3D animation application from Autodesk
A 3D CAD translation softwate