Pat the brisket dry and season on all sides with the salt, chili powder, cumin, smoked paprika, garlic powder, and black pepper.
Set the Instant Pot to Sauté and heat a small amount of oil. Sear the brisket for 2–3 minutes per side, just until lightly browned.
Turn off sauté mode and add 1½ cups beef broth, scraping up any browned bits from the bottom of the pot.
Lock the lid and cook on Manual / Pressure Cook (High) for 75 minutes.
Allow a 15–20 minute natural pressure release, then carefully release any remaining pressure.
Transfer the brisket to a cutting board, rest for 10 minutes, and shred with two forks.
Spoon some of the cooking liquid over the brisket before serving or store the meat in the juices.