Prep the chicken - Dice into bite-sized pieces and season lightly with salt and pepper.
Sauté aromatics - Turn the Instant Pot to “Sauté,” add vegetable oil, then garlic, ginger, and dried chilies. Cook until fragrant.
Cook chicken - Add chicken to the pot and sauté until lightly browned on all sides.
Add vegetables & sauce - Stir in bell peppers, soy sauce, hoisin, rice vinegar, chicken broth, and sesame oil. Mix well.
Pressure cook- Seal the Instant Pot lid and cook on high pressure for 5-6 minutes. Quick release pressure carefully.
Thicken sauce - Mix cornstarch with a little water to make slurry and stir into the chicken. Switch to “Sauté” and cook 1-2 minutes until sauce thickens.
Finish & garnish - Add roasted peanuts and green onions. Serve immediately with steamed rice or noodles