Heat olive oil and butter in a large pan over medium heat until the butter melts.
Add minced garlic and sauté until fragrant, about 1 minute.
Add fresh spinach to the pan.
Cook for 5-7 minutes, stirring often, until the spinach wilts and looks bright green.
Stir in heavy cream and cream cheese.
Cook until cream cheese melts completely and mixes with the heavy cream, forming a smooth sauce.
Add grated Parmesan cheese, salt, and black pepper.
Reduce heat to low and cook while stirring, until the cheese melts completely.
Continue to stir until the sauce thickens to your desired consistency.
Serve immediately.