In a large bowl, combine the cake and pudding mixes, water, oil and eggs; beat on low speed for 30 seconds. Beat on medium for 2 minutes. Stir in chocolate chips.
Fill paper-lined muffin cups two-thirds full. Bake at 375° for 18-22 minutes or until a toothpick inserted in the center comes out clean. Cool for 10 minutes before removing to wire racks to cool completely. Frost cupcakes. Sprinkle with additional chips if desired.