In a medium pot or saucepan over medium-high heat, cook the beef, stirring often, until it’s browned, about 5 minutes. Drain off the fat, leaving the meat in the pot.
Reduce the heat to medium and add the tomatoes and cheese. Cook, stirring frequently, until the cheese is melted and everything is well combined, about 5 minutes.
Remove the pot from the heat and stir in the chili powder if you’re using it.
Serve the dip warm in the skillet or transfer it to a serving bowl. Sprinkle some cilantro on top if you like and serve with tortilla chips on the side. Enjoy the cheesy goodness!