Turn Instant Pot on a saute mode. Add sliced bacon and cook until crispy texture, about 10 minutes. Transfer to a plate lined with paper towel. Remove bacon grease, leaving 2 tablespoon inside the instant pot.
Now, add chopped and washed leeks and saute for 5 minutes, stirring few times.
After, add chopped potato, 5 cups of chicken broth, 1/2 teaspoon thyme, salt and pepper to taste. Stir.
Cover the lid and cook on broth/soup mode for 10 minutes. After timer goes off, quick release the pressure.
Serve Potato Leek Soup with crispy bacon and fresh chopped parsley. Enjoy!