Cut jalapeños in half lengthwise and remove seeds and membranes with a spoon. Mix cream cheese, cheddar cheese, garlic powder, and onion powder in a bowl.
Fill each jalapeño half with cream cheese mixture, slightly mounding it.
Wrap each stuffed jalapeño with a half slice of bacon and secure with a toothpick.
Arrange poppers in air fryer basket in a single layer, making sure bacon ends are tucked under.
Air fry at 370°F for 12-15 minutes until bacon is crispy and jalapeños are tender. Let cool for 2 minutes before serving.