A magnetic bearing is like a magic trick that holds something up without touching it! It's kind of like when you put two magnets close to each other, and they either try to pull each other together or push each other away.
Now, imagine you have a big spinning wheel, like a Ferris wheel at a fair. That wheel is really heavy, but it needs to spin very fast. If you put normal bearings (like wheels on a car) on the bottom, they would rub and create a lot of friction, which would slow down the wheel.
But with a magnetic bearing, you put a magnet on the bottom of the wheel, and another magnet underneath it. The two magnets create a force that pushes the wheel up and keeps it from touching the ground. This means the wheel can spin really fast without any friction.
It's kind of like a hoverboard, where you stand on a platform and it floats off the ground using magnets. Magnetic bearings are used in things like turbines, which are machines that use fast-spinning blades to create electricity. Without magnetic bearings, those blades wouldn't spin as smoothly or quickly, so we wouldn't have as much electricity to use.