We determine the partition function of 1 16 BPS operators in N = 4 SYM at weak coupling at the one-loop level in the planar limit. This partition function is significantly different from the one computed at zero coupling. We find that it coincides precisely with the partition function of a gas of 1 16 BPS 'supergravitons' in AdS 5 × S 5

We explicitly construct a (unique) Spin(9)×SU (2) singlet state, φ, involving only the fermionic degrees of freedom of the supersymmetric matrix-model corresponding to reduced 10-dimensional super Yang-Mills theory, resp. supermembranes in 11-dimensional Minkowski space. Any non-singular wavefunction annihilated by the 16 supercharges of SU (2) matrix theory must, at the origin (where it is assumed to be non-vanishing) reduce to φ.