Preheat your oven to 325 degrees F.

Season the beef chunks generously with salt and pepper.

Heat olive oil in a large Dutch oven over medium-high heat. Add the beef and sear until browned on all sides, about 5-7 minutes.

Remove the beef and set aside. In the same pot, add the onion and garlic, cooking until softened, about 3 minutes.

Add the carrots and cook for another 2 minutes.

Pour in the red wine, scraping the bottom of the pot to release any browned bits.

Add the beef broth, thyme, and bay leaves. Bring to a simmer.

Return the beef to the pot. Cover and transfer to the oven.

Braise in the oven for about 3 hours, or until the beef is very tender.

Remove from oven, discard thyme and bay leaves, and adjust seasoning with salt and pepper before serving.