People familiar with the matter: Hugging Face is reviewing the terms of the D round of financing competition, or raising at least $200 million at a valuation of $4 billion

AI startup Hugging Face is reviewing competing term sheets for a Series D funding round that could raise at least $200 million at a $4 billion valuation, people familiar with the matter said, according to Forbes on July 14. Sound Ventures is currently leading the round.

Hugging Face co-founder and chief executive Clément Delangue is expected to select a preferred offer as soon as Friday, according to another source, who noted that the situation remains fluid, meaning no deal has been struck yet. Figures involved are subject to change. Several other sources, speaking on condition of anonymity, said Hugging Face could seek more financing, possibly as much as $300 million, while existing investors could still try to make a last-minute bid. Alphabet-backed venture capital firms GV and DFJ are also said to be eyeing the round, one of the sources added.

Hugging Face did not respond to a request for comment. GV declined to comment. Coatue, DFJ, Kutcher and Lux did not respond.