Preheat your oven to 350°F (175°C) and line two baking sheets with parchment paper.
In a medium bowl, whisk together the flour, cocoa powder, baking powder, and salt.
In a large mixing bowl, beat the butter, granulated sugar, and brown sugar until light and fluffy.
Add eggs one at a time and mix in the vanilla extract until smooth.
Gradually incorporate the dry ingredients into the wet mixture until just combined. Gently fold in chocolate chips.
Scoop mounds of dough onto prepared baking sheets and top with rainbow sprinkles.
Bake for about 10 minutes or until edges are firm but centers remain soft. Cool on wire racks before enjoying.