Preheat oven to 350°F. Grease a bundt pan with shortening and lightly dust with sugar (you can use flour, but I prefer sugar for a chocolate cake).
In the bowl of a stand mixer fitted with the paddle attachment combine all the cake ingredients. Mix on low speed for about 30 seconds until combined. Then mix on medium until smooth or about 30 seconds. Stop the mixer and scrape down the sides, mix for another 30 seconds to 1 minute.
Stir in the chocolate chips by hand. Pour the batter into the prepared pan.
Bake for 55-60 minutes. Test the cake by piercing the cake in the center with a wooden pick. It is done when no crumbs or dry crumbs remain on the pick when removed.
Allow the cake to cool in the pan for 15 minutes and then invert the pan onto a cake plate. Cool completely before frosting.
FROSTING
Heat the frosting in the microwave 45 to 65 seconds. Stir until smooth. Drizzle over cool cake.