Preheat oven to 325 degrees.
Spray a bundt cake pan with baking spray that includes flour, or butter and flower the cake pan.
Place the chopped pecans in the bottom of the bundt pan.
Place the softened butter into a large mixing bowl and beat on low speed with electric or stand mixer until soft. Increase the speed and whisk until the butter is fluffy.
Melt the chocolate chips and let them cool to room temperature.
Add the sugar 1/4 cup at a time, whisking with the mixer until each addition is whipped into the butter.
Add the eggs one at a time, beating each for 1 minute after adding to the butter and sugar.
Sift the flour with the baking powder and salt into a small bowl.
Add 1/3 of the flour mixture and 1/2 cup of milk and mix on medium speed. Repeat with 1/3 flour mixture and 1/2 cup sugar. Then add the remaining flour and mix.
Stir in the melted chocolate and the vanilla extract.
Pour the batter into the prepared bundt cake pan until 2/3 full. Any leftover batter can be baked in a loaf pan that has been buttered and floured.
Bake at 325 degrees for 60-75 minutes, or until a toothpick inserted in the cake comes out clean.
(A loaf pan will bake in about 30-45 minutes)
Cool the cakes in the pan for 15 minutes, then carefully loosen the cake by running a knife around the inside edge of the cake pan.
Turn the cake upside down to remove from pan and cool on a wire rack.
Serve with whipped cream, ice cream, or homemade chocolate sauce.