Azure services are publicly available over the internet by default.  That works for many services, but sometimes we need to limit access to internal networks only.  Private Endpoints provide a local, internal connection to resources in Azure.  It does this by adding a virtual NIC to a subnet.  From there, the NIC gets a private IP address where it can be accessed from the internal network.  This video goes over the configuration options to create a new storage account with an Azure File Share Private Endpoint as well as update an existing storage account with a private endpoint.

Links

Zero to Hero with Azure Virtual Desktop
Hybrid Identity with Windows AD and Azure AD
Private Endpoints and DNS in Azure