Dice the onion finely and cut the chicken breasts into 1/2-inch chunks. Have the rice, spinach, and all seasonings measured and ready. In your Instant Pot set to sauté mode, melt 3 tablespoons of butter over medium-high heat. Add the diced onion and cook for 3-4 minutes, stirring occasionally, until it becomes translucent and fragrant. This develops the aromatic foundation for the entire dish.
Add the chicken chunks and rice to the sautéed onions, stirring frequently for 4-5 minutes until the chicken is lightly browned and the rice becomes slightly toasted. This browning step adds complexity and nutty flavor depth that won't develop if you skip it. Watch for the rice grains to turn opaque at the edges rather than translucent.
Pour in the white wine and use a wooden spoon to scrape the flavorful browned bits from the bottom of the pot—this technique, called deglazing, transfers all that rich flavor into your liquid. Once scraped clean, add the remaining chicken broth, salt, dried thyme, smoked paprika, black pepper, and garlic powder. Stir well to combine everything evenly, then turn off the sauté mode.
Close the Instant Pot lid, make sure the valve is set to sealing, and cook on high pressure for 3 minutes. This short cook time is perfect for tender chicken and fluffy rice without overcooking. After the timer sounds, allow 7 minutes of natural pressure release (don't touch the pot), then carefully switch the valve to venting to release any remaining pressure.
Open the lid carefully and stir in the fresh spinach, allowing it to wilt into the warm rice mixture—this usually takes about 1-2 minutes of gentle stirring. Stir in the freshly grated Parmesan cheese and the remaining 2 tablespoons of butter, folding everything together until fully combined. I like to finish with the fresh lemon juice right at the end because it brightens all the flavors and cuts through the richness of the butter and cheese beautifully. Taste and adjust seasoning if needed before serving.