Cook the bacon in a skillet over medium heat for 8-10 minutes until crispy. Transfer to paper towels to drain and cool, then crumble.

Shred the cooled chicken breasts finely using forks or a stand mixer, aiming for about 4 cups of tender pieces.

In a bowl, combine cream cheese and mayonnaise; beat until smooth. Mix in garlic powder, onion powder, kosher salt, and black pepper.

Fold shredded chicken into the cream cheese sauce. Add diced jalapenos, 1 cup of cheddar cheese, and 3/4 of the bacon. Mix thoroughly.

Transfer to a serving bowl and garnish with remaining bacon, reserved cheddar cheese, and sliced jalapeno.