Both players will be held out for rest but are expected to play in L.A.'s second game Sunday at Acrisure Arena against the Phoenix Suns.
Jaxson Hayes and Max Christie will start in their place against Minnesota.
James and Davis are coming off busy summers crossing the globe with Team USA, culminating with winning the gold medal at the Paris Olympics.
James' son, Lakers rookie Bronny James, could see his first preseason action Friday, as coach JJ Redick said he plans to experiment with varying lineups during the exhibition schedule.
"Of course, there are nerves," Bronny said after shootaround Friday morning. "Comes with everything. But I'm just excited to go out there and learn and learn from the people playing in front of me. And if I get a chance to showcase my game, then I'm going to do that to the best of my ability."
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