Well, it seem like is was originally, but isn't now and hasn't been at date of publication.

Edit:

> The initial QUIC protocol was designed by Jim Roskind at Google and was initially implemented in 2012, announced publicly to the world in 2013 when Google's experimentation broadened.

> Back then, QUIC was still claimed to be an acronym for "Quick UDP Internet Connections", but that has been dropped since then.

from https://http3-explained.haxx.se/en/proc