Heat olive oil in a large skillet over medium heat. Add ground beef and cook until browned. Drain excess grease.
Add garlic powder, onion powder, paprika, salt, and pepper. Stir well.
Pour in the Rotel tomatoes and beef broth. Simmer for 5 minutes.
Add heavy cream and bring to a gentle simmer.
Stir in cooked pasta and mix well.
Add cheddar and mozzarella cheese, stirring until melted and creamy.
Remove from heat and serve hot. Enjoy!