That's applied science. You don't have companies doing basic research because it isn't immediately profitable. You have to do both, basic research to learn things, and applied science to utilize it and make it commercially valuable.
Businesses have a long history of funding research with long time horizons. Look at quantum computing.
Whether that's basic or applied, well who really cares? The distinction is an academic invention because there's no definition of what basic research means and how it's different to applied. Was the transformer algorithm basic research? It's certainly become a fundamental general algorithm, but read the paper and it was designed to help Google Translate.
