Charles Ellicott Commentary Isaiah 48:14

"Assemble yourselves, all ye, and hear; who among them hath declared these things? He whom Jehovah loveth shall perform his pleasure on Babylon, and his arm [shall be on] the Chaldeans." — Isaiah 48:14 (ASV)

All you, assemble yourselves. —The challenge is addressed as before (Isaiah 43:9) to the worshippers of idols.

The Lord has loved him. —Better, He whom the Lord loves will do his pleasure. The context leaves it uncertain whether the “pleasure” and the “arm” are those of Cyrus or Jehovah. The latter seems to give a preferable meaning. There is, perhaps, an allusive reference to the idea implied in the name of the great king of Israel (David, “beloved,” or “darling”). Cyrus was to be even as a second David, beloved of the Lord.