Abstract
We resolve a long-standing question: does the four-dimensional
\$N=4\$ SU(N) Super-Yang-Mills theory on \$S^3\$ at large N contain
enough states to account for the entropy of rotating electrically-charged BPS
black holes in AdS\$\_5\$? Our answer is positive. We reconsider the large N limit
of the superconformal index, using the Bethe Ansatz formulation, and find an
exponentially large contribution which exactly reproduces the
Bekenstein-Hawking entropy of the black holes of Gutowski-Reall. Besides, the
large N limit exhibits a complicated structure, with many competing exponential
contributions and Stokes lines, hinting at new physics.
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