In a large bowl, mix together the cake and pudding mixes, sour cream, oil, beaten eggs and water. Stir in the chocolate chips and pour batter into a well greased 12 cup bundt pan.
Bake for 50 to 55 minutes, or until top is springy to the touch and a wooden toothpick inserted comes out clean. Cool cake thoroughly in pan at least an hour and a half before inverting onto a plate If desired, dust the cake with powdered sugar.
Now for the chocolate glaze that I top the cake with...mmmm!! Note - you can leave the cake as is or top with powdered sugar too. I like the extra kick of chocolate though.
3/4 cup semisweet chocolate chips
3 tablespoons butter
1 tablespoon light corn syrup
1/4 teaspoon vanilla extract
Combine all ingredients and melt. I use the microwave because it is easiest!