Cook the Bacon: In a large pot, add the diced bacon and cook over medium heat until crispy, about 6-8 minutes. Stir occasionally to ensure even cooking and prevent sticking. Once cooked, remove the bacon with a slotted spoon, leaving the rendered fat in the pot, and set the crispy bits aside on a plate lined with paper towels to drain.

Sauté the Vegetables: In the same pot with the bacon fat, add 2 tablespoons of butter or olive oil over medium heat. Toss in the diced onion and sliced carrots, sautéing for about 5-7 minutes until they are tender and the onion is translucent.

Add the Broth: Pour in 4 cups of chicken broth and bring the mixture to a simmer over medium-high heat. Scrape the bottom of the pot with a wooden spoon to deglaze and incorporate the flavor from the bacon and vegetables. Allow it to simmer for about 5 minutes.

Stir in the Cream and Seasonings: Reduce the heat to medium-low and slowly stir in 2 cups of heavy cream, ensuring the mixture remains smooth and well-combined. Season with salt, pepper, garlic powder, thyme, and optional red chili flakes.

Cook the Gnocchi: Add 16 ounces of gnocchi directly to the pot, and allow them to cook for about 2 minutes. They should float to the surface when they are done.

Incorporate the Bacon and Serve: Finally, stir the reserved crispy bacon back into the soup, mixing well. Serve hot, garnished with extra cheese or fresh herbs if desired.