Acer Travelmate 5520-5313 won't power on.

I am diagnosing a laptop for a friend. It is an Acer Tavelmate 5520-5313. After hitting the power button the power light comes on, and the chip light comes on, blinks and then both lights go out. Power light comes back on, chip light blinks, and then both shut off and the computer powers off completely. In addition, I hear the fan come on and stop in combination with the lights and I believe I hear the CD-Rom or maybe its the HDD initiate once.

I'm thinking if is chip related, I just don't know what tests to run. Some research turned up that similar models were linked to the GPU chipset, while others were linked to the CPU housing (not the cpu itself). However, neither result from research were the exact model.

Any ideas what I can do? I have several tools such as multi-meters and heat guns if I need to go that route, I just don't have a schematic on where to test or anything like that.

I found a video of the issue on youtube if anyone wants to see exactly what is happening. I did not record/upload this but this IS the issue. https://www.youtube.com/watch?v=woCHYHlezz0
 
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