In a medium saucepan, combine beef broth, butter, salt, garlic powder, and paprika. Bring to a boil, stir in jasmine rice, cover, reduce heat to low, and simmer for 15-18 minutes.

Season steak strips with salt, black pepper, garlic powder, paprika, and cumin. In a skillet, heat olive oil over medium-high heat, add steak strips and cook for 3-4 minutes on each side until desired doneness. Let rest for 5 minutes.

In a small saucepan, heat heavy cream over low heat, stirring constantly. Add cream cheese, then cheddar and Monterey Jack cheeses, and mix until smooth. Add garlic powder and cayenne pepper for heat as desired.

Divide jasmine rice into serving bowls. Top with steak strips and drizzle with queso sauce.

Garnish with cilantro, diced tomatoes, jalapeños, and sour cream as desired.