Preheat oven to 350 degrees F. Butter a 9-inch round by 3-inch deep cake pan (preferably with a removable bottom) or an 8-inch nonstick tube pan. Lightly spray with cooking spray or coat with butter.

In a mixing bowl or the bowl of a stand mixer fitted with the paddle attachment, cream butter and sugar together until fluffy, 2 to 3 minutes.

Add eggs, one at a time, mixing well after each addition.

Mix baking powder and salt in with flour until evenly incorporated; mix baking soda in with sour cream.

Alternate adding half of sour cream to batter, followed by half of dry ingredients, mixing well after each addition.

Scrape down the sides of the bowl, then repeat with remaining sour cream and flour until just incorporated.

Mix in vanilla and almond extracts, then fold in chocolate chips until evenly distributed.

In a small bowl, whisk together sugar and cinnamon.

Spread half of the batter into prepared cake pan. Sprinkle with half of sugar mixture; gently swirl a few strokes through the batter with a knife.

Top with remaining batter, then sprinkle with remaining sugar and swirl once again.

Sprinkle with a few more chocolate chips and cacao nibs, as desired.

Bake for about 45 to 50 minutes or until top is golden brown and a toothpick inserted near the center comes out clean.

Place pan on a wire rack to cool. Run a knife around the edge to release, then remove from pan and cool completely.