Set your Instant Pot to Sauté mode and allow it to preheat. Then melt the butter and add in the onion. Cook for 3-4 minutes until translucent, then turn off the pot and add the minced garlic and cook for another minute.
Add the chicken broth, diced potatoes, salt, and pepper. Then close the lid and pressure cook on Manual for 10 minutes. Carefully quick release the pressure until the pin drops, then open the lid.
Set the Instant Pot to sauté mode. Stir together the cream and cornstarch in a measuring cup to make a slurry, then add to the pot and stir. Bring to a simmer and cook for 3-4 minutes until thickened.
Turn off the pot and stir in ½ cup of shredded cheese and around half of your bacon and chives. The serve in bowls and top each serving with the remaining cheese, bacon and chives.
Notes
Storage: Store leftovers in an airtight container and refrigerate for up to 5 days. Reheating: Reheat in a pot over medium heat until warmed through. Smaller portions can be reheated in the microwave.