Best cake I've tasted so far. This recipe is so simple too! Need to make twice as much next time

1 cup semi-sweet chocolate chips
1.25 cups sugar
1/3 cup milk
1/3 cup butter
1 teaspoon vanilla

To prepare this frosting:
1. In a saucepan, mix together milk, butter, sugar. Bring to boil for 45 seconds.
2. Remove from heat and add chocolate chips and vanilla. Stir until smooth and use immediately.