Heat the olive oil in a large skillet over medium-high heat.
Add the cubed chicken to the skillet, sprinkle with curry powder, chili powder, 1/4 teaspoon salt, and 1/2 teaspoon pepper; toss to coat.
Cook the chicken for about 5 minutes, stirring occasionally, until it just begins to brown.
Add the chopped onion and cook for about 5 minutes more, until the onion is translucent.
Stir in the minced garlic and chopped jalapeño and cook for 30 seconds until fragrant.
Pour in the chicken broth and coconut milk, bring the mixture to a boil, then reduce heat to medium and simmer for 5 minutes.
Taste and adjust seasoning with salt and pepper as needed, then stir in the torn basil and remove from heat.
Serve warm over rice.
