Preheat oven to 325°F. Grease a 10-12 cup Bundt pan thoroughly with butter and dust with flour, or use baking spray with flour.

In a large mixing bowl or stand mixer with paddle attachment, beat softened butter and cream cheese together until completely smooth, about 2-3 minutes on medium speed.

Gradually add sugar and continue beating for 3-4 minutes until mixture is pale and fluffy. Scrape down sides of bowl as needed.

Add eggs one at a time, mixing well after each addition. Add vanilla extract and almond extract and mix until combined.

In a separate bowl, whisk together cake flour, baking powder, and salt. Add dry ingredients to wet mixture in three additions, alternating with milk. Begin and end with flour. Mix on low just until combined.

Pour batter into prepared pan and smooth top. Tap pan gently on counter to release air bubbles.

Bake for 75-90 minutes. At 45 minutes, loosely tent top with aluminum foil to prevent over-browning.

Cake is done when a toothpick inserted into center comes out clean or with just a few moist crumbs.

Cool in pan for 15-20 minutes, then invert onto wire rack to cool completely before serving.