One end is a very short drill bit, with a stop ring. It is precisely sized to engage the other end. That end is a hardened conical tap, designed to cut into the hole created by the stopped bit and jam before it bottoms out.

9PCS Damaged Screw Extractor Set, Hardness is 63-65HRC HSS 6542, Screw Grab Screw Removal Tool, Adult Gifts for Men General Bit Set Double Ended Screw...
4.0

9PCS Damaged Screw Extractor Set General Screw Grab Screw Removal Tool Easy Out Rusty & Broken Drill Bits Stripped Remover Kit Double Ended for Stripped Head...
4.0

9Pcs Damaged Screw Extractor Set, Screw Remover and Extractor Bit Set, Adult Gifts for Men, General bit set Double Ended for Damaged Broken Stripped Screws
4.0