It usually stands for "as fuck" and is used to intensify the meaning of the word or phrase that comes before it. For example:
It's hot af (as fuck) outside! (It's extremely hot outside)
I am tired af (as fuck) right now! (I'm so tired right now.)
Note that this kind of phrasing is very rude and is mostly used among friends or in a group that wont mind the use of such language. You'll most often see it abbreviated as "af" when written. This kind of slang has existed for a long time, but it has only recently been abbreviated when written on the internet.