Spieth started the day in a share of the lead with world number one Jason Day and American Derek Fathauer on 10 under.
After completing the final two holes of his first round which was cut short by inclement weather on Thursday, the two-time major victor then fired eight birdies in his seven-under-par 65 to sit at the top of the leaderboard on 10 under after the second round.
Ogilvy trails 54 hole leader Jordan Spieth by a massive nine shots but he is just three shots out of the second place held by two time victor, Brandt Snedeker, while another two time victor, Dustin Johnson, is one further back.
Starting on the back nine, Day opened with a birdie and he gained a stroke at the 16th, having bogeyed 13, before birdieing the first and sixth holes following the turn.
Day fell out of the running with a three-over-par 75 while Fathauer went round two over. "So, I've got to set a goal and stay real patient, try not to make many mistakes, hit a lot of greens in regulation".
Justin Timberlake and Justin Rose clearly have a fun little bromance going on at the AT&T Pebble Beach Pro-Am this week.
Australian Day had to contend with driving wind and rain over his last four holes before organisers halted play at 1:34 p.m. PST (2134 GMT) due to unplayable conditions on the Monterey Peninsula in California. You're still trying to benefit off me and I'm not Tiger Woods - what does that say about you?
"I knew what the putt was doing, but it's one of those kind of left-to-right that you've got to go outside the hole and you don't really want to. and I trusted the line and it went right in the dead centre".