Preheat your oven to 400°F. Grab a large skillet or Dutch oven, melt together olive oil and butter over medium heat. Toss in those sliced onions and stir occasionally until they turn that perfect deep caramel color—this takes about 20 minutes, but trust me, it’s worth it!
Pour in white wine and use a wooden spoon to scrape up all those flavorful browned bits. Stir in thyme and beef broth, bring everything to a simmer, and let that rich aroma fill your kitchen.
Add the gnocchi and stir occasionally, letting it simmer over medium heat. In 5-10 minutes, they’ll be perfectly tender, and the sauce will have thickened up beautifully.
Season with salt and pepper, then transfer everything into a greased baking dish. Load it up with cheese (because more cheese = more awesome) and pop it in the oven for 20-25 minutes until bubbly and golden.