Preheat the oven to 400°.
Place the jalapeño on a small parchment-lined baking sheet and drizzle it with olive oil so that it is completely coated. Roast the jalapeño in the oven for 10 to 15 minutes, until it is tender and the skin begins to blacken.
Remove the baking sheet from the oven, remove the jalapeño’s stem, and set the jalapeño aside to cool. For a less spicy queso, slice the jalapeño open and remove the seeds.
Drain the soaked cashews and place them in a high-speed blender or a food processor.
Add the garlic, nutritional yeast, vegetable broth, and roasted jalapeño. Blend until the mixture is completely smooth and velvety. I live for a thick queso but if yours is coming out too creamy for your liking, blend in a couple extra splashes of vegetable broth.
Season the queso with salt and pepper to taste, and transfer it to a bowl.
Serve immediately, with tortilla chips!