...in late stage development which is MUCH less risky. Super risky early stage tech development mostly happens in the public sector at taxpayer expense through government agencies like DARPA.
A lot of things are easier when it happens with other people's money. A lot of those projects didn't necessarily have the expectation to make/turn a profit.
Compared to $10 billion in R&D for Microsoft and Intel and $8 billion for Google: http://fortune.com/2014/11/17/top-10-research-development/