Who says the words "He misleads many thereby..."?

Imām Ibn al-Jawzī (d. 597 AH / 1201 CE) summarized the scholars' opinions in his book "Zād al-Masīr":

1. It is a continuation of the unbelievers' quoted statement. [al-Farrāʾ, Ibn Qutaybah] al-Farrāʾ said: It is as if they said: "What does Allāh intend with an example that not everyone knows? He is misleading this person while guiding that one." Then, a new sentence begins which tells us that Allāh comments: "And none are led astray thereby except the defiantly disobedient" (2:26)
2. It is the beginning of a new statement from Allāh. [al-Suddī, Muqātil]