Not really... take IBM for example. Its a big company, yet their Cell processor was pretty unique. And Sun's T1 and T2 processors were pretty original as well, though Sun is a much smaller company. Its the likes of Microsoft that don't really have much innovation.

As for large companies spending more effort to solve existing problems, thats a valid point, but Microsoft seems to have more problems with software than any other company - and they don't always tell you that there is a problem.