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Both players were on non-guaranteed contract.
Davis spent last season with the Atlanta Hawks and was claimed off waivers by the Rockets after the season. He averaged 4.0 points and 4.0 rebounds in nine appearances last season.
Chiozza went undrafted out of Florida in 2018.
He signed a 10-day contract with the Rockets in February and spent his time with the Rio Grande Valley Vipers of the G League. He has not appeared in an NBA game.