Microsoft Research is strongly expected to have an impact on the business side of things. It just so happens that Microsoft is willing to incubate projects like Midori* that have long runways (decade+) and may completely fail. The hope is that some new emerging tech long plays will become huge business boons (Cortana, Kinect, ..). There's lots of investment in NLP, vision, and OS research over at MSR.
As far as other tech companies with large R&D budgets, look at Google. However, Google's R&D investment areas are different than MSFT's (apparently they don't do OS research): http://money.cnn.com/2013/11/20/technology/mobile/apple-rd-s...