Emergency services rushed to Wardles Lane, near the Quinton Shopping Centre, at 10.54pm last night.
The 21-year-old suffered the injuries after a disorder involving a bladed weapon, police say.
The victim was taken to Queen Elizabeth Hospital for further treatment by paramedics at the scene.
A spokesman for West Midlands Ambulance Service said: "We sent one ambulance and a paramedic officer to the scene.
"We treated one patient, a man, for serious injuries before taking him to hospital for further treatment."
Now an investigation has been launched by officers in a bid to track down the culprits.
A spokesman for Staffordshire Police said: "The suspects made off and an area search by officers proved negative.
"The man was taken to Queen Elizabeth Hospital in Birmingham where he remains in stable condition."
Lee Murphy, chairman of the Great Wyrley & Cheslyn Hay Community Group, said the attack was "unheard of" in the village.
He said: "Serious disorders are unheard of in our village, so I am shocked and disgusted to hear about this incident involving a knife.
"We have driven a culture of vigilance and loving where you live across the village.
"Subsequently we have many eyes and ears and a good relationship with Staffordshire Police, which we will continue to use to ensure this will be an isolated incident."
Anyone with information is asked to call 101 quoting incident number 791 of May 17 or message Staffordshire Police on Facebook or Twitter.
Alternatively, contact Crimestoppers anonymously on 0800 555 111.