No.
At run time, the one or few machine instructions it translates into ensure that the designated register is loaded with the required address. This does not involve accessing memory. (So there is no delay slot after this instruction.)
Here is the previous example code done using
la
:
main: # Load memory address: la $10,val2 # load a 32-bit address into $10 lw $11,0($10) # Load contents of memory at the address into $11 . . . .data val0: .word 0 val1: .word 1 val2: .word 2 # base register $10 points at "2" val3: .word 3 val4: .word 4 val5: .word 5