A linkedin profile has been uncovered which suggests that Microsoft Game Studios is involved in creating at least four new IPs.
According to the C.V of Project Manager/Product Planner, J Brown, he has been the "primary product manager on four unannounced new IPs" and has been "a key contributor to bringing these titles from very early concept phase, through green light and into production."
What could these games be? It seems likely that Microsoft would be working on new titles to show off its as yet unannounced new hardware. Will these be 'AAA' games or are they being created with the new version of Kinect in mind? Who knows, but it certainly looks like it's not only Sony that has some big announcements up its sleeves.