There's reportedly still a chance Jacobs could play this week against the New York Jets despite the injury.
The tailback was hurt late against Atlanta during an ankle tackle to end a run.
Jacobs has racked up 782 yards and nine touchdowns on 206 carries this season. He's also caught 25 passes for 175 yards.
If the 2019 first-round pick can't play against the Jets, Devontae Booker will take over the team's primary backfield role.
The Raiders sit just outside the AFC playoff picture at 6-5 following Sunday's blowout defeat.