Preheat oven to 375°F and line a baking sheet with parchment paper.
Cream together butter, brown sugar, and granulated sugar in a stand mixer until fluffy. Beat in the eggs, followed by the vanilla; mix until creamy. Add the flour, cocoa powder, baking soda, cinnamon, salt, chili powder, and cayenne to the butter mixture. Beat until just blended. Fold in the chocolate chips.
Using a cookie scoop, space cookie dough on a baking sheet about an inch apart. Bake for 9 to 13 minutes (depending on the size of your cookies) until they are still soft to the touch. Transfer the cookies to a rack to cool.