Season pork with salt and pepper. Preheat pot on medium high and melt butter. Once the pot is very hot, brown the pork tenderloin 2 minutes on each side.
Turn off the heat. Remove tenderloin and set aside. Add 1½ cups of the chicken broth, stirring to scrape up any brown bits on the bottom of the pot.
In a small bowl mix the garlic powder, Italian seasoning, and chili powder. Sprinkle one side of the pork with seasoning.
Place tenderloin in the bottom of the pot, seasoning side up. Secure the lid and set the timer to zero minutes. Once the cycle has completed, allow the pressure to naturally release for 15 minutes. (Note: Add 2 minutes for each additional ½" diameter in size.)
Remove tenderloin, tent with foil, and let rest for 10 minutes. Turn pot to high heat saute setting.
Whisk together cornstarch in ½ cup cold chicken broth. (If using xanthan gum, whisk with 1 teaspoon olive oil.) Whisk mixture into the pot juices. Bring to a simmer, stirring frequently. Continue simmering until gravy is reduced and thickened. (Note: is gravy has thickened too much, add in more broth or water)
Slice tenderloin and serve with gravy. Season pork and sauce to taste.
Kori's Tips
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TIPS: Use xanthan gum as a thickener if following gluten free or keto; Use any seasoning blend to your taste. Add 2 minutes of pressure cooking time for each ½" increase in tenderloin size.
NOTE: Pork tenderloin cooks really fast - it is not a typo that the pot is set to zero minutes. The Instant Pot will build up pressure, then immediately start the natural release of pressure. During this time the tenderloin will cook.
SERVING SUGGESTIONS: Serve sliced with gravy. Pairs well will mashed potatoes, broccoli, green beans, or sweet peas.