Alibaba Group (NYSE:BABA) is progressing with its artificial intelligence initiatives and IPO goals for its segments. The company's logistics arm, Cainiao, part of a consortium, has made a preliminary buyout offer to Chinese logistics company Best. The consortium plans to fund the deal primarily through Cainiao's equity capital and cash. Cainiao is preparing for its $1 billion Hong Kong IPO. Alibaba, which currently holds about 70% of Cainiao, will likely retain over 50% of the unit following the IPO. Alibaba's rival, Shein, is considering a U.S. IPO with a valuation of up to $490 billion.