Not entirely true that it’s losing money due to inflation. Companies to keep cash on hand and market investments for a variety of reasons. Airlines and logistics shipping companies for example tend to trade heavily on oil futures since one of their overhead costs is fuel. If they own a good part of the market, when their operating expenses go up because of inflation, so do the value of their investments which can either offset or even reduce the overhead substantially. Professional services companies similarly diversify in the types of companies they do business with so when one market sector is slow, others can pick up the slack. Having money on hand can help work as a reservoir to buffer the slower sectors at the same time.