Heat a heavy bottom pan over medium heat. Add a drizzle of oil and diced onions. Saute onions until translucent, about 3-4 minutes. Add chicken broth and bring to a gentle boil. Stir in gnocchi and cook until the gnocchi floats to the surface; 3-4 minutes for frozen or 2-3 minutes for pre-packaged.
Add garlic powder, salt, and pepper to taste. Stir in cream and half of the bacon. Remove the pan from the heat and add half of the cheese, stirring until melted. Ladle into bowls and garnish with remaining bacon, cheese, and chopped scallions.