We consider theoretically the formation and stability of quasi-one dimensional many-body excitons in GaAs quantum wire structures under external photoexcitation conditions by solving the dynamically screened Bethe-Salpeter equation for realistic Coulomb interaction. In agreement with several recent experimental findings the calculated excitonic peak shows very weak carrier density dependence upto (and even above) the Mott transition density, nc ∼ 3 × 10 5 cm −1 . Above nc we find considerable optical gain demonstrating compellingly the possibility of one-dimensional quantum wire laser operation.PACS numbers: 71.35.Cc; 78.66.Fd; 73.20.Dx An exciton, the bound Coulombic ("hydrogenic") state between an electron in the conduction band and a hole in the valence band, is an (extensively studied) central concept in semiconductor physics. Recent interest has focused on low dimensional excitons in artificially structured semiconductor quantum well or wire systems where carrier confinement may substantially enhance the excitonic binding energy leading to novel optical phenomena. In this Letter we consider the formation, stability, and optical properties of one dimensional (1D) excitons in semiconductor quantum wires, a problem which has attracted a great deal of recent experimental [1][2][3] and theoretical [4-6] attention. Our motivation has been a number of recent puzzling experimental observations [1,2], which find the photoluminescence emitted from an initially photoexcited semiconductor quantum wire plasma to be peaked essentially at a constant energy independent of the magnitude of the photoexcitation intensity. This is surprising because one expects a strongly density-dependent "red shift" in the peak due to the exchange-correlation induced band gap renormalization (BGR) (i.e. a density-dependent shrinkage of the fundamental band gap due to electron and hole self-energy corrections), which should vary strongly as a function of the photoexcited electron-hole density [7][8][9]. This striking lack of any dependence of the observed photoluminescence peak energy on the photoexcitation density has led to the suggestion [1,2] that the observed quantum wire photoluminescence may be arising entirely from an excitonic (as opposed to an electron-hole plasma (EHP)) recombination mechanism, and the effective excitonic energy is, for unknown reasons, a constant (as a function of carrier density) in 1D quantum wires. This, however, introduces a new puzzle because one expects the excitonic level to exhibit a "blue shift" (i.e. an increase) as a function of carrier density as the Coulomb interaction weakens due to screening by the finite carrier density leading to a diminished excitonic binding energy. Thus the only way to understand the experimental observation is to invoke a near exact cancelation between the red-shift arising from the self-energy correction induced BGR and the blue-shift arising from screening induced excitonic binding weakening. In this Letter, focusing on the photoexcited quasi-equilibrium regime, we provi...