Femtosecond carrier dynamics in GaAs and Al0.3Ga0.7As are investigated using pump probe measurements of transient absorption saturation. Pulses of 35 fs duration are used both to excite carriers and to investigate their subsequent scattering out of their initial optically excited states. A two‐component ultrafast relaxation is observed. In GaAs the initial rapid relaxation occurs on a time scale of 10–35 fs. Measurements performed in Al0.3Ga0.7As indicate that this initial process slows significantly to 130–170 fs for increasing band gap.