According to police, the stabbing took place at 4:15 a.m. on Wesleyan Avenue near the intersection with Chapel Place.
Police said the victim as a passenger in a vehicle occupied by three other people. A verbal argument broke out between the victim and one of the other passengers.
Police said the argument escalated, and the victim and suspect engaged in a physical altercation outside the vehicle. According to a police report, the victim returned to the vehicle and told the others, who stayed in the vehicle, that he had been stabbed by the suspect.
The victim was driven to St. Mary's Hospital where he was treated for multiple stab wounds. He was then transferred to Albany Medical Center Hospital, where he is undergoing emergency surgery for his injuries.
Detectives are in the process of collecting evidence, conducting interviews with witnesses and attempting to locate the suspect, who still remains at large.
Amsterdam police are not releasing the names of the suspect or victim.