Davis injured the ankle 4 minutes into New Orleans' home game against the Utah Jazz on Friday night.
Alexis Ajinca is scheduled to start in Davis' place on Saturday night.
New Orleans coach Monty Williams said Davis is day to day.
The Spurs, winners of 16 straight, are without wing Danny Green. He is sitting out due to right foot inflammation that forced him to exit in the second half of a home victory over Denver on Wednesday.
Davis, the league's top draft pick in 2012, is averaging 21.3 points, 10.3 rebounds and 2.9 blocks in 35.7 minutes a game this season.
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