2In a large mixing bowl,combine flour,sugar,water,cocoa
powder,1/2 cup butter,eggs,baking powder,baking soda and vanilla extract.Beat at low speed,scraping bowl often,until well mixed(1 to 2 minutes).Stir in chocolate chips and 1 cup chopped peanuts.
3Pour into greased and floured 13 x 9-inch baking pan.
Bake for 30 to 40 minutes or until toothpick inserted
in center come out clean,Cool completely.
4For the frosting:
Combine 2/3 cup butter and peanut butter in a medium bowl.Beat at high speed,scraping bowl often,until light and creamy(1 to 2 minutes).Reduce speed to low;add confectioners'sugar.Beat,gradually adding enough half and half for spreading consistency and scraping bowl often,until smooth.Frost cooled cake;sprinkle with remaining chopped peanuts and chocolate chips.