The structural and electronic properties of the GaAs 1−x Bi x ternary alloy are investigated by means of two first principles and full potential methods, the linear augmented plane waves (FPLAPW) method and a recent version of the full potential linear muffin-tin orbitals method (FPLMTO) which enables an accurate treatment of the interstitial regions. In particular, we have found that the maximal GaBi mole fraction x for which GaBi x As 1−x remains a semiconductor is probably around x=0.5. The electronic properties of (GaAs) m /(GaBi) n quantum well superlattices (SLs) have also been calculated and it is found that such SLs are semiconductors when m is larger or equal to n.