Recent research has shown that the internal dynamics of an artificial neural network model of sentence comprehension displayed a similar pattern to the amplitude of the N400 in several conditions known to modulate this event-related potential. These results led Rabovsky et al. (2018) to suggest that the N400 might reflect change in an implicit predictive representation of meaning corresponding to semantic prediction error. This explanation stands as an alternative to the hypothesis that the N400 reflects lexical prediction error as estimated by word surprisal (Frank et al., 2015). In the present study, we directly model the amplitude of the N400 elicited during naturalistic sentence processing by using as predictor the update of the distributed representation of sentence meaning generated by a sentence gestalt model (McClelland et al., 1989) trained on a large-scale text corpus. This enables a quantitative prediction of N400 amplitudes based on a cognitively motivated model, as well as quantitative comparison of this model to alternative models of the N400. Specifically, we compare the update measure from the sentence gestalt model to surprisal estimated by a comparable language model trained on next-word prediction. Our results suggest that both sentence gestalt update and surprisal predict aspects of N400 amplitudes. Thus, we argue that N400 amplitudes might reflect two distinct but probably closely related sub-processes that contribute to the processing of a sentence.