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Preheat oven to 350°F. Beat all ingredients, except chocolate chips, in large bowl with electric mixer on low speed just until moistened, scraping side of bowl frequently. Beat on medium speed 2 minutes or until well blended. Stir in chocolate chips.
Pour into 10-cup Bundt pan sprayed with no stick baking spray with flour.
Bake 50 minutes or until cake pulls away from side of pan and cake springs back when touched lightly. Cool in pan 15 minutes. Invert cake onto wire rack. Cool completely.