To take part in a race (in the sense of a contest).

“The drivers were racing around the track.”

To compete against in such a race.

“I raced him to the car, but he was there first, so he got to ride shotgun.”

To move or drive at high speed; to hurry or speed.

“As soon as it was time to go home, he raced for the door.”

To assign a race to; to perceive as having a (usually specified) race.

(social studies) Belonging to a certain race of people.

To demolish; to level to the ground.

To scrape as if with a razor.