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1. Literally, to remove the inner part of an object. A noun or pronoun can be used between "carve" and "out." The first step in this recipe is to carve out your fruit and dispose of the seeds. They made canoes by carving out big logs.
2. To establish a niche or role for oneself. A noun or pronoun can be used between "carve" and "out." It took a long time, and many small acting parts, before I was able to carve out a career as a character actor.
3. To take or obtain a portion of something. A noun or pronoun can be used between "carve" and "out." I decided to invest in their unique product because I could see it carving out a chunk of the tech market in the near future.
carve something out (of something)
to remove something from the inside of something else by carving or cutting. She carved the insides out. She carved out the insides of the pumpkin.
carve something out
to hollow something out by carving; to make something hollow by carving. Can he carve a bowl out of such soft wood? He carved out the bowl of the pipe and then began to sand it.