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Large corporations, especially those related to tech, will generally have a research arm of some form performing university level research. Outside of attempting to use the research to argue that their companies aren't a harm to society, the research is generally legit.
The corporations generally do it to stay competitive. In the near term, research can be used to create patentable technology and new products. In the long term, the research can give an idea on what can be technically achievable in the future, allowing companies to increase their predictive capabilities.