Preheat the oven to 325F degrees. Grease and flour a 12-cup bundt pan, or brush with pan release. Make sure to get into all the grooves of the pan.
In a large bowl, whisk together the flour, spices, baking soda, baking powder and salt.
In a separate very large bowl, beat together the oil, sugars, eggs, vanilla extract and pumpkin until there are no lumps. This can also be done by hand with a wire whisk.
Carefully beat (or whisk) the flour mixture into the batter, about 1/2 at a time until combined.
Stir in the chocolate chips.
Pour the batter into the pan, smooth the top, and bake in the preheated oven for 60-70 minutes, or until an inserted toothpick comes out clean or with a few crumbs. It is better to bake the cake for 5 minutes longer to ensure it is fully baked through the middle, instead of ending up with a doughy center. This can is very unlikely to dry out.
Remove the pan from the oven and place the cake (still in the pan) on a wire rack to cool. After 1 hour, carefully invert the cake (the pan may still be warm) and continue cooling.