We examine the geometry of loop spaces in derived algebraic geometry and
extend in several directions the well known connection between rotation of
loops and the de Rham differential. Our main result, a categorification of the
geometric description of cyclic homology, relates S^1-equivariant quasicoherent
sheaves on the loop space of a smooth scheme or geometric stack X in
characteristic zero with sheaves on X with flat connection, or equivalently
D_X-modules. By deducing the Hodge filtration on de Rham modules from the
formality of cochains on the circle, we are able to recover D_X-modules
precisely rather than a periodic version. More generally, we consider the
rotated Hopf fibration Omega S^3 --> Omega S^2 --> S^1, and relate Omega
S^2-equivariant sheaves on the loop space with sheaves on X with arbitrary
connection, with curvature given by their Omega S^3-equivariance.Comment: Revised versio