In a large Dutch oven or soup pot over medium heat, cook chopped bacon until crispy (7-10 minutes). Set aside, leaving some fat in the pot for flavor.

Add diced onion to the bacon fat; sauté until translucent (3-5 minutes). Toss in minced garlic and jalapeños, cooking until fragrant (1-2 minutes) to build a flavorful base.

If using raw chicken, push vegetables aside and sear chicken for 3-4 minutes until browned. Mix well for even cooking and flavor distribution.

Slowly pour in chicken broth while scraping the pot's bottom to release those flavorful bits. Bring to a low boil, then reduce to a simmer for 15-20 minutes, covered, to meld the flavors.

If using whole chicken, remove it from the pot after 10 minutes, shred it, and return it to the mix for an even heartier texture.

Add softened cream cheese in chunks, stirring until melted. Mix in cheddar cheese and heavy cream, allowing everything to thicken for another 5-7 minutes on low heat.

Taste and adjust the seasoning. Stir in half of the reserved bacon, then top with garnishes like extra cheddar, sour cream, and sliced jalapeños for a delicious finish.