They’re Water Resistant (But Not Waterproof)
Apple notes that AirTags have an IP67 water resistance rating, which means they’re splash, water, and dust resistant, and can survive a dip of up to 1 meter for up to 30 minutes.
However, they’re not waterproof, which means that you won’t necessarily be able to locate something that’s been lost at the bottom of a lake. That said, Apple’s iPhones aren’t technically waterproof either, and some of them have managed to spend weeks underwater, so we wouldn’t be surprised if AirTags also exceed these specs.