In a large cast-iron skillet, heat olive oil and butter over medium-high heat.
Add the shrimp and cook for 2–3 minutes per side until pink and lightly golden. Remove and set aside.
In the same skillet, add red onion, white onion, and minced garlic. Cook until softened and fragrant. Stir in cherry tomatoes and chopped spinach. Cook until tomatoes start to soften.
Pour in chicken broth and white wine. Add smoked paprika, salt, and pepper. Stir to combine. Reduce the heat to medium-low and let the mixture simmer for a few minutes to allow the flavors to meld.
Add the cooked shrimp back to the skillet and coat them in the sauce.
Pour in the heavy cream and sprinkle with grated Parmesan cheese. Stir until the cheese has melted and the sauce has thickened slightly. Cook for a few more minutes until everything is heated through.
Notes
Don’t overcook the shrimp: They cook fast, just a couple of minutes per side is all you need.
Use fresh spinach: It wilts beautifully and adds color and nutrients.
Deglaze with wine: It adds depth of flavor, but you can sub chicken broth if you prefer.
Serve with crusty bread or pasta: That sauce is too good to waste!