Cole delivered a stunning third-round performance to vault himself to the top of the leaderboard at the Charles Schwab Challenge.
The American carded a course-best 63 in the third round, a score that set a new personal benchmark at the venue.
Cole’s round was highlighted by eight birdies, a display of consistent and aggressive scoring throughout the day.
The performance was enough to push Cole clear of England’s Smith, who had previously held the lead heading into the third round.
Cole now stands alone at the top of the leaderboard with just one round remaining in the tournament.
The Charles Schwab Challenge has produced a tight and compelling contest, with the lead changing hands as the weekend has progressed.
Cole’s third-round 63 was the standout scorecard of the day, putting him in the driving seat ahead of the final 18 holes.
England’s Smith had been in a strong position before Cole’s charge, but now faces the challenge of overhauling the new leader.
The final round promises to deliver significant drama as Cole looks to hold off his rivals and claim the title.
All eyes will now turn to Sunday’s concluding round, where Cole will look to convert his overnight advantage into a tournament victory.