Add the chicken tenderloins and chicken broth to the Instant Pot insert. Close the lid, set to Sealing. Cook on Manual, High for 5 minutes.
Let naturally release, then remove the chicken tenderloins and strain off any liquid.
Place them in a mixing bowl and shred with 2 forks. Let chill in the fridge for at least 2 hours.
Once chilled, mix in the mayonnaise, sour cream, bacon bits, shredded cheddar cheese. Season with salt and pepper to taste.
Just before serving, mix in or sprinkle chopped chives on top.
Serve Bacon Cheddar Chicken Salad on bread, crackers, or in a lettuce cup.