Cook bacon and set aside. Once cooled, cut into small pieces.

Heat a large pot over medium heat. Add the butter or olive oil.

Add the onions and carrots to the pot and cook until tender, about 10-15 minutes.

Add chicken broth and let simmer.

Once the vegetables are soft, reduce heat to medium-low and add heavy cream or half-n-half and all spices. Let simmer without boiling.

Add the grated cheese in increments, ensuring it doesn't clump, and let melt completely.

Stir in the gnocchi and cook for 2 minutes. Taste and adjust seasonings with salt and pepper as needed.

Add the bacon pieces and serve.