Satan has overcome them and made them forget the remembrance of Allāh. Those are the party of Satan. Unquestionably, the party of Satan - they will be the losers.
Allah chastises the hypocrites for secretly aiding and supporting the disbelievers even though, in reality, they were neither with the disbelievers nor with the Muslims. Allah the Exalted said in another Ayah,
((They are) swaying between this and that, belonging neither to these nor to those; and he whom Allah sends astray, you will not find for him a way.)(4:143) Allah said here,
(Have you not seen those who take as friends a people upon whom is the wrath of Allah) referring to the Jews with whom the hypocrites were allies in secret. Allah said,
Chastising the Hypocrites for their Secret Alliance with the Jews
أَلَمْ تَرَ إِلَى الَّذِينَ تَوَلَّوْا قَوْمًا غَضِبَ اللَّـهُ عَلَيْهِم (Have you not seen those who have friendship with a people with whom Allah is angry? ....58:14) Allah condemns the hypocrites who secretly formed an alliance with the Jews who challenge Allah and His Apostle, while in effect they belong neither to the Muslims nor to the Jews. Consequently, Allah has prepared for them a humiliating and condign chastisement. It is not permissible to have a friendly intimacy with the enemies of Allah and His Messenger ﷺ - whether the unbelievers are Jews, or Christians, or pagans or of any other creed. Even rationally this is not possible, because the capital asset of a believer is the love of Allah, while a non-believer relishes in opposing and challenging Him. It is not possible for a person to have sincere love and affection for someone and to love and have intimacy with the latter's enemy. Here 'love', 'affection' or 'intimacy' refers to the one coming from the heart involving intense emotional commitment (which necessarily includes having love with his way of life. Ed.). This is called Muwalah or 'intimate friendship'. This type of friendship is limited to sincere Muslims. Therefore, the Qur'anic verses on many occasions strictly prohibit Muslims from having this sort of relationship with non-Muslims. Any Muslim who has such intimate friendship with non-Muslims will be seen to fall in the circle of unbelievers.
The hypocrites of Madinah, who were at that time living in the community of Islam, joined hands with other hostile tribes. This is always true of those who are unable to accept the Truth whole-heartedly. Such people are apparently in consonance with everyone else but, in reality, they are loyal only to their own interests, despite having given assurances on oath of their being devotees of the Truth.
Uthmani text of the Madinah mushaf (King Fahd Complex). Translation: Saheeh International. Tafsir via Quran.com.