The partition function on the three-sphere of many supersymmetric Chern-Simons-matter theories reduces, by localization, to a matrix model. In this talk I will describe a new method to study these models in the M-theory limit, but at all orders in the 1/N expansion. The method is based on reformulating the matrix model as the partition function of a Fermi gas. This new approach leads to a completely elementary derivation of the N^{3/2} behavior for ABJM theory and other quiver Chern-Simons-matter theories. In addition, the full series of 1/N corrections to the original matrix integral can be simply determined by a next-to-leading calculation in the semiclassical expansion of the quantum gas.