And it actually fries food, because it's cooking your food with oil (generally), but much less than an actual fry attempt.
Edit: uh, downvoting folks, you do realize that when you cook something in fat, you're frying it, right? When you make browned butter, for instance, after the water is cooked off, the milk solids are being fried in the remaining butter fat.
Frying is the cooking of food in oil or another fat.
Frying techniques vary in the amount of fat required, the cooking time, the type of cooking vessel required, and the manipulation of the food. Sautéing, stir-frying, pan frying, shallow frying, deep frying, and air frying are all standard frying techniques.