Dice the potato and carrots small. The smaller you dice them, the faster they cook and you really want them to be very soft before blending.
Combine the diced potato, carrots, onion, 1 cup of the cashew milk, salt, garlic and pepper in a small saucepan. Bring to a boil over medium heat. Cover, reduce heat to simmer and cook an additional 20 minutes.
After 20 minutes, transfer mixture to a blender. Add in remaining 1/4 cup Cashew milk. Blend on high for 90 seconds, until sauce is smooth and creamy.
Let cool for 5 minutes. Mixture thickens as it cools.
Ladle over tortilla chips and top with sliced olives, avocado, diced tomatoes, sliced jalapeños- whatever you'd like!