Apple is rolling out a new version of its AirTag firmware, offering privacy improvements. While there is no way to force your AirTag to update its firmware, there is a way to see if it has been updated to the latest version.
AirTag firmware updates install automatically when an AirTag is in range of your iPhone. The process is similar to how Apple updates the firmware of its AirPods lineup.
The new version of AirTag software build rolling out today is build number 1A276d and firmware version 1.0.276. This is up from the previous firmware version of 1.0.225, which is the version that AirTags shipped with at launch.
Checking your AirTag firmware version is a bit roundabout, but here goes.
If your AirTag has not yet been updated, be patient. Just make sure your AirTag is in range of your iPhone and it should soon automatically update.