Advanced Micro Devices Inc., which disappointed Wall Street in the fourth quarter with its artificial-intelligence chip forecast, may be facing another risk —an oversupply of chips to the personal-computer market.

An executive at chipmaker Advanced Micro Devices (AMD) has bought company stock for the first time in 12 years, according to regulatory

Regarded as the biggest competitor to Nvidia Corp. in making chips used to train artificial intelligence software, Advanced Micro Devices Inc.’s shares look less like an immediate rival.

Phil Guido, an AMD executive VP, bought $500,000 of the chip maker’s shares, the first insider buy since 2012.