We consider aspects of instanton dynamics in the large-N limit using the Ad
S/CFT duality for D0/D4 bound states. In the supergravity picture of wrappe
d D0-brane world-lines on D4-branes, we find the single-instanton measure a
nd discuss its dependence on compactification finite-size effects, as well
as its matching to perturbative results. In the non-supersymmetric ease, th
e same dynamical effects that produce the theta-angle dependence perturbati
vely in 1/N, render the instantons unstable, although approximate instanton
s of very small size still exist.
The smeared D0/D4 black-brane supergravity solution can be interpreted as d
ual to a field theory configuration of an instanton condensate in the vacuu
m. In this case, we derive a holographic relation between the bare theta an
gle and the topological charge density of the instanton condensate. (C) 199
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