However, if the option is changed to Any of the words (OR), then the 'Air Conditioner' shape will be matched because its name contains the word 'Air'. For example, 'Air Cond' will not find the 'Air Conditioner' shape when this is the selected option. Although the search is not case-sensitive, it does match on whole words.
The default option for search is to search for text that matches All of the words (AND).