Prepare the oven and pan: Preheat your oven to 325°F (163°C). Grease and flour a 9×5-inch loaf pan or line it with parchment paper for easy removal.
Mix the wet ingredients: In a large bowl, beat the softened butter and cream cheese together until light and fluffy, about 3-4 minutes. Add the granulated sugar and continue to beat until combined and smooth. Add the eggs, one at a time, beating well after each addition. Stir in the vanilla extract.
Combine the dry ingredients: In a separate bowl, whisk together the flour, cocoa powder, baking powder, and salt until well combined.
Combine the wet and dry ingredients: Gradually add the dry ingredients to the wet ingredients in batches, alternating with the milk. Start and end with the dry ingredients. Mix until just combined, but be careful not to overmix.
Add the chocolate chips (optional): If using, fold in the chocolate chips for an extra boost of chocolate flavor.
Bake: Pour the batter into the prepared loaf pan, spreading it evenly. Bake for 60-75 minutes, or until a toothpick inserted into the center of the cake comes out clean or with just a few crumbs. If the top of the cake is browning too quickly, you can tent it with aluminum foil during the last 15 minutes of baking.
Cool and serve: Let the cake cool in the pan for 10 minutes before transferring it to a wire rack to cool completely. Slice and enjoy!
Serving and Storage Tips:
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