Preheat oven to 350 degrees F (175 degrees C) and line a baking sheet with parchment paper.

In a large mixing bowl, whisk together the dry cake mix and baking powder to remove lumps.

Add the eggs, vegetable oil, and vanilla extract to the dry mixture and stir until a thick dough forms.

Gently fold in the semi-sweet chocolate chips and rainbow sprinkles until evenly distributed.

Scoop rounded tablespoons of dough and place them approximately 2 inches apart on the prepared baking sheet.

Bake for 9 to 11 minutes until the edges are lightly golden and the centers are set.

Allow the cookies to cool on the baking sheet for 5 minutes before transferring to a wire rack to cool completely.