Thoroughly grease and flour a bundt pan. Knock out excess flour.
Combine dry ingredients. Beating on slow, add eggs one at a time. When just combined, mix in sour cream. Slowly add in liquids. Stop to scrape bottom of bowl. When thoroughly combined, add in chocolate chips and mix well. Pour evenly into bundt pan and bake in the middle of a preheated 350 oven for one hour. When done, let sit for 10 minutes, then run a knife carefully around edges. Turn cake over and let sit a few more minutes. When loose, remove bundt pan and let cake cool thoroughly, at least two hours.
For topping, heat 1 Cup of heavy cream to just simmering. Pour cream into bowlful of chocolate chips (about half a 12 oz bag) and stir. When melted, drizzle chocolate sauce over cake. Just before serving, sprinkle with confectioners sugar, if desired.