Toss cubed White American and grated Monterey Jack cheeses into a large saucepan or skillet over medium-low heat.

Pour in the evaporated milk and stir continuously until the cheeses begin to melt together.

Stir in the diced roasted green peppers and garlic powder. Keep stirring until the mixture is completely smooth and bubbling slightly.

Remove from heat, garnish with fresh chopped cilantro, and serve immediately with warm tortilla chips.