Preheat oven to 400F. In a large skillet or Dutch oven, melt olive oil and butter over medium heat. Add onions and stir occasionally until onions are a deep caramelized color, about 20 minutes.
Deglaze pan by adding white wine and scraping up any browned bits with a wooden spoon. Add thyme and beef broth and bring to a simmer. Add gnocchi and stir occasionally over medium heat until gnocchi is tender and sauce is thickened and reduced, about 5-10 minutes.
Season gnocchi with salt and pepper to taste and scrape into a medium greased baking dish. Top with cheese. Bake gnocchi at 400F 20-25 minutes until cheese is lightly browned and gnocchi is bubbly.
Serve gnocchi with French bread slices for dipping. Enjoy!
