You can as long as your swapping it out with an acer Vbios video card.. thats exactly the same as the one it came with.
You cannot upgrade it due to the fact that A. Acers are very cheap Laptops.
B. Since acer only puts in the required heatsink, any card with a higher TDP would simply burn itself up
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I5 3570K@4~5.0ghz: Gigabyte GA-Z77X-UD3H:Corsair Hydro H70w/Delta 240CFM Fan: 16GB Corsair Vengeance DDR-3 1600: 2 XFX Radeon 7950 @ 1150/1575 : Corsair AX 860 PSU: x2 WD Black 1TB HDD's: 90GB OCZ Agility 3:CL X-FI:Corsair 500R Arctic White Edition:3 22inch Asus monitors Eyefinity @ 5294x 1050(bezel comp) : Alienware Tact-X Keyboard: Naga Razer gaming mouse:Corsair Vengance 1500 Headset .