Not with the proper kind and amount of dry-lube. It, the M16, and the M60 all worked well in Alaska, down to -15 or so, when treated properly.
In that regard, the only failures to fire I've ever experienced with 55+ years of handgun experience were with revolvers: Smith Model 10 (broken internal part), Smith Model 19 (broken firing pin), and H&R Model 923 (broken mainspring). That includes 32K through one accurized 1911A1 in competitions, according to the logbook.