In a small bowl, combine garlic powder, onion powder, cumin, paprika, salt, and pepper. Toss chicken cubes in the spice mix to coat evenly.

Heat olive oil and 1 tablespoon of butter in a large skillet over medium-high heat. Add chicken in a single layer and sear for 4-5 minutes per side until golden and cooked through. Remove chicken and set aside.

In the same skillet, melt remaining tablespoon of butter. Add sliced jalapeños and sauté for 2 minutes until slightly softened. Add minced garlic and cook for 30 seconds.

Pour in chicken broth to deglaze the pan, scraping up any browned bits. Let simmer for 2 minutes.

Reduce heat to low. Stir in heavy cream and softened cream cheese. Whisk continuously until cream cheese is fully melted and sauce is smooth.

Remove from heat briefly and stir in shredded cheddar cheese until melted. If sauce is too thick, add a splash more broth.

Return the cooked chicken and any juices back to the skillet. Toss to coat in the sauce and simmer for 1 minute to heat through. Serve hot.