  We investigate the possibility of generalizing Gopakumar's microscopic
derivation [1] of Witten diagrams in large N free quantum field theory to
interacting theories. For simplicity we consider a massless, matrix valued real
scalar field with $\Phi^h$ interaction in d-dimensions. Using Schwinger's
proper time formulation and organizing the sum over Feynman graphs by the
number of loops $\ell$, we show that the two-point function can be expressed as
a sum over boundary-to-boundary propagators of bulk scalars in $AdS_{d+1}$ with
mass determined by $\ell$.
