I found this on the cooking blog The Spiced Life. The pictures of the cake were just so gorgeous I couldn't stop looking at them. I love the texture of yeasted cakes and have plans to make this one for a special someone's birthday :)
Sprinkle the yeast over the water in a medium-large bowl. Stir to blend, and then let sit until foamy, about 5 minutes. Mix in the milk and 1 1/2 cups of the flour; whisk until smooth. Cover with plastic wrap and let rise until light and spongy, about 45 minutes.
Using an electric mixer, preferably stand, beat the butter and sugar until light and fluffy. Beat in the eggs, one at a time, until totally incorporated. Add the yeast mixture and vanilla and beat until blended.
In another bowl, whisk together the remaining flour, the baking soda, and the salt until fluffy and blended. Add this flour mixture to the batter in 3 additions, alternating with the melted chocolate and beginning and ending with the flour. With the last flour addition, add the mini chocolate chips and mix until completely blended. Finish by hand, scraping down the sides and bottom of the bowl.
Generously butter a 10 inch tube pan and scrape the dough into the pan. Cover the pan with plastic wrap and set aside to rise until light and foamy, but not quite doubled. After 40-60 minutes (depending on how fast it seems to be rising), preheat your oven to 350°F Bake until the sides pull away from the edges and a tester inserted in the middle comes out clean, about 50 minutes. Let the cake cool in the pan on a rack for at least 20 minutes. Use a thin knife to gently loosen the edges before inverting and removing. After it cools, wrap it securely with plastic wrap or store in a cake keeper.