In a medium bowl whisk together the egg, applesauce, oil, juice and zest of the orange, orange extract and sugar.

In another small bowl stir together the flour, baking soda and salt.

Dump the flour mixture into the wet mixture and stir gently just until combined. Do not over-mix.

Gently stir in the chocolate chips

Grease a 3-cup bundt pan with oil or butter, pour in the batter and spread it out evenly.

To the Instant Pot add in 1 cup of water and the steaming trivet.

Place the bundt pan on the steaming trivet (no need to cover)

Lock the lid and set the steam release valve to the sealing position.

Select Pressure Cook (High) and set the cook time to 30 minutes.

When cook time is complete, allow the pressure to release naturally for 5 minutes, then quick release any remaining pressure.

Cool the cake in the pan on a wire rack for 5 minutes and then invert the cake onto the wire rack to remove it from the pan and cool for another 10 minutes.

Cut into wedges, serve and enjoy!