Preheat oven to 350 degrees. Spray 8 cup bundt pan with cooking spray and pour ½ cup chocolate syrup into bottom of bundt pan.
Place 3 eggs, water, oil, and cake mix into large mixing bowl and mix with hand mixer until well combined. Pour batter over top of syrup in bundt pan.
In another large mixing bowl combine the softened cream cheese and sugar until well combined. Add remaining eggs, one at a time, mixing well after each addition. Add evaporated milk and melted chocolate and stir until well combined. Batter will be very runny.
Gently spoon cream cheese mixture over cake.
Cover bundt pan with aluminum foil and place in large shallow pan, adding water to shallow pan until it covers the bundt pan about 2 inches.
Bake in oven for 1 hour and 30 minutes, or until toothpick comes out clean when inserted into cake.
Remove from oven and cool completely. Place entire bundt pan (with cake) in refrigerator and refrigerate at least two hours.
When ready to serve, invert cake onto serving platter and see the magic!