Preheat the oven to 325 degrees. Grease a 6-cup tube pan thoroughly. Set Aside.
In a large mixing bowl, mix the flour, sugar, cocoa powder, baking soda, and salt for 60 seconds on low speed with the electric mixer. Next, add the butter, eggs, oil, vanilla, and 2 tablespoons of the water. Beat on low speed just until all of the dry ingredients are moist.
Turn the mixer to medium speed and beat for 1 minute. Add 3 tablespoons water and beat for about 20 seconds on medium speed. Scrape the bowl and add the remaining 3 tablespoons water. Beat for 20-30 seconds until the batter is smooth. Then Fold in the chocolate chips. Scrape the batter into the pan and spread it evenly.
Bake for 35-40 minutes (be sure not to open the oven during the first 30 minutes) or until a toothpick inserted into a cakey place in the center of the cake comes out clean (except for melted chocolate chips).
Set the pan on a rack to cool for 5-10 minutes. Invert the cake onto rack (turn the round cake right side up) to cool completely.
To make the ganache, start by placing the chocolate chips in a medium bowl. Bring the cream and salt to a simmer in a medium saucepan. Pour the cream over the chocolate. Wait 60 seconds to soften the chocolate, and then stir until the chocolate is entirely melted and the mixture is smooth. Cool to thicken slightly. Pour glaze over cooled cake and let set at room temperature.
recipe adapted from epicurious.