Preheat oven to 350° F. Grease a 12-cup bundt pan and dust it with unsweetened cocoa powder.
Combine all ingredients except chocolate chips in the bowl of a standing electric mixer. Beat on medium speed with the paddle attachment for 3 to 5 minutes. Mix in chocolate chips. Pour into prepared bundt pan. Bake for 55 to 60 minutes, until a skewer inserted into the middle comes out with just a few clinging crumbs.
Remove from the oven and cool the cake for 30 minutes in the pan. Carefully turn the cake out onto a rack to cool.
Dust with powdered sugar or glaze with chocolate ganache (see previous recipe).