Preheat oven to 350 degrees F. Generously butter and lightly flour, removing any excess, bundt pan.
In bowl of stand mixer, mix together flour, baking powder, baking soda, salt, spices, and sugar.
With the paddle attached and the mixer running on low speed, add the softened butter in chunks and continue to mix until the dry ingredients are evenly coated with the butter.
Combine the pumpkin, eggs, vanilla and milk. Stir to combine.
With the mixer running on low, add half of the wet ingredients. Increase speed to medium high and mix for 4-5 minutes until light and fluffy. Add remaining wet ingredients and mix on low until well combined. Batter will be very thick.
Spoon about a third to half of the batter into your bundt pan. Sprinkle chocolate chips on top. Spoon on some more batter. Add remaining chocolate chips. Spoon remaining batter on top and smooth over with back of spatula to evenly distribute.
Bake for 50 to 55 minutes or until a toothpick inserted in the deepest part of the pan comes out clean or with a few moist crumbs attached. Be aware that the chocolate may make the batter appear as if it has not cooked. Move to a wire rack and let cool in pan for about 15 minutes. Invert onto wire rack, cake should come out cleanly, and allow to cool.