@seans_potato_biz, after reading your post a second time, my answer above probably does not describe what you really want.
seans_potato_biz wrote:In the image below, I want to keep the stuff on top of the grey area.
I was trapped by your words "inverted/opposite".
For what I understand now, you do not need to invert anything.
For clipping you have have to
1. have the clip path on top (z-order) and
2. also select all other objects to be clipped. It shouldn't matter whether you have vector objects or bitmap images.
Unless you want something else...
Is the grey piece part of the image or just your clip path? Or as @brynn speculates do you want to remove the grey background?
Or maybe you want to keep the "E..P", the blue arrow and the green rectangle AND also keep a part of the black arc as object and use a copy further somewhere else? Then you need to cut the black arc with boolean operations. Clipping is just hiding not cutting.
Thank you for clarifying.

- Clipping.png (31.36 KiB) Viewed 20864 times