As processor architects are hitting fundamental physical limits when it comes to increasing clock speeds[1], it would probably take a team of world-class engineers, not a few disruption-minded startup founders, to create a 10GHz CPU. Such a chip would have extreme cooling and power demands and wouldn't necessarily perform well.
Cyrix doesn't seem like a great example, as it mostly competed with Intel on its budget chips, if Wikipedia is correct. I suspect the greater amount of low-hanging fruit in processor design made it easier for smaller companies to compete with Intel in the 90s.
[0]: http://arstechnica.com/gadgets/2011/04/ask-ars-whats-the-rel...
[1]: https://www.quora.com/Why-havent-CPU-clock-speeds-increased-....
http://www.reddit.com/r/askscience/comments/ngv50/why_have_c....