Melt chocolate in a heatproof bowl set over a pan of simmering water, stirring until smooth. Let stand until just warm, 10 to 15 minutes.
Put cream cheese and sugar into the bowl of an electric mixer fitted with the paddle attachment. Mix on medium-high speed until pale and fluffy, about 4 minutes. Reduce speed to low. Mix in melted chocolate until combined. Use immediately.
Also I think this recipe makes enough frosting for two batches (48) cupcakes, especially if you are making them for kids.
Super creamy and decadent. I love the glossy look the chocolate adds.