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Grease and flour a standard bundt pan; set aside.
Preheat oven to 325°F.
Using a countertop mixer, cream together the butter and sugar until light and fluffy (~2-3 minutes on medium speed.)
Add eggs; mix until well combined.
Add remaining ingredients (flour, cocoa powder, baking powder, salt, milk and vanilla). Mix until well combined, scraping down the sides of the mixing bowl as needed.
Using a rubber spatula, transfer batter into greased bundt pan.
Bake for 80-90 minutes, or until a toothpick inserted into cake comes out mostly clean.
Let cake cool in pan for 30 minutes and then transfer to a wire rack until completely cool.
In a small bowl, whisk together all ingredients (powdered sugar, cocoa powder, milk and Nutella).
Drizzle Glaze over cooled cake before serving.