Preheat your oven to 350°F (175°C).

In a large mixing bowl, use an electric mixer to beat together the softened cream cheese, sour cream, and mayonnaise until smooth and creamy, about 2-3 minutes.

Stir in the taco seasoning and cayenne pepper until well-combined.

Gently fold in the shredded cheddar and mozzarella cheese.

Add the diced jalapeños, sliced black olives, and diced tomatoes to the cheese mixture and stir gently.

Transfer the dip mixture into an oven-safe baking dish, spreading it out evenly.

Sprinkle the crumbled bacon and chopped green onions over the top.

Bake for 25-30 minutes or until bubbly and lightly golden.

Allow to cool for about 10 minutes before serving.

Serve with tortilla chips or warm baguette slices.