Select the saute function on the Instant Pot. Coat the bottom of the pot with olive oil. Once hot, add your onion and garlic to the pot and saute for 3-4 minutes.
Select cancel, then transfer the onion and garlic mixture to a high powered blender or food processor.
To the blender, add diced tomatoes, chipotle peppers, chili powder, oregano, ground cumin, chicken bouillon, salt, and chicken broth. Pulse until smooth.
Pour the sauce into the Instant Pot, then place the chicken on top. Secure the lid. Cook on high pressure for 9 minutes. Use a quick release.
Carefully remove the lid and take out the chicken. Shred your chicken using two forks or with a hand mixer. Return the chicken back to the pot and stir so it absorbs the sauce.
Serve over rice, cauliflower rice, or in tortillas and enjoy!