Press the sauté button on the instant pot to start heating the pot.
In a small bowl, combine the chili powder, tomato paste, minced garlic, cumin, and salt. Mix with a spoon until it forms into a thick paste.
¼ cup chili powder, ¼ cup tomato paste, 4 cloves garlic, 1 TBS cumin, 1 tsp salt
Put the spice paste into the heated instant pot. For about 2 minutes, break up and stir the paste around the pot until a brown layer of fond forms on the bottom of the pot. Then, pour in the beef broth. Mix the broth and paste together until a sauce forms.
1 cup beef broth
Turn off the sauté function by pressing cancel. Add the cubed chuck roast to the pot and stir to coat the meat in the sauce.
3 lbs boneless chuck roast
Place the lid on the pot, ensuring the vent is in the sealing position. Pressure cook on high for 35 minutes.
Once the time is up, quick release the pressure. Using a wide serving spoon, skim the fat off the top. Shred the beef using two forks.
Turn the sauté function back on, and cook down the sauce until thick, about 3 minutes.
Enjoy the shredded beef on nachos, in tacos, on salads, etc.