Preheat oven to 325°F. Line a 9x5-inch loaf pan with parchment paper and spray with nonstick spray. Set aside.
In a large bowl, whisk the flour, baking powder, and salt together. Set aside.
1⅔ cups all-purpose flour, 1 teaspoon baking powder, ½ teaspoon kosher salt
Use a hand or stand mixer to cream the butter and sugar together until light and airy in texture, about 2 minutes.
1 cup unsalted butter, 1 cup granulated sugar
Add the eggs one at a time, mixing after each addition to incorporate the yolk. Add the vanilla and almond extracts.
4 large eggs, 1 teaspoon pure vanilla extract, ½ teaspoon almond extract
Stir in half of the flour mixture, followed by the sour cream and milk. Add the remaining flour mixture and mix until just combined.
¼ cup sour cream, ¼ cup whole milk
Gently fold in the sprinkles.
½ cup rainbow sprinkles
Transfer the batter to the prepared loaf pan. Smooth the top into an even layer.
Bake for 55-60 minutes, until a toothpick inserted into the center comes out clean and the top of the cake springs back when touched.
Let the cake cool for 10 minutes in the pan before removing and transferring to a cooling rack.
While the cake cools, make the glaze. Whisk all of the ingredients together in a bowl until smooth.
2 cups powdered sugar, 1 teaspoon pure vanilla extract, ¼ cup whole milk
Drizzle the icing over the cake and allow to set before slicing and serving.