What does >& mean?

This is the same as &>. From the bash manpage:

Redirecting Standard Output and Standard Error
This construct allows both the standard output (file descriptor 1) and
the standard error output (file descriptor 2) to be redirected to the
file whose name is the expansion of word.

There are two formats for  redirecting  standard  output  and  standard
error:

       &>word
and
       >&word

Of the two forms, the first is preferred.  This is semantically equiva-
lent to

       >word 2>&1