Police were called by concerned passers-by after the fight broke out this morning.
Two men fled the scene and police are trying understand what took place.
A spokesman for Greater Manchester Police said: “At approximately 9.50am this morning, Wednesday 19 July 2023, Greater Manchester received calls reporting a fight ensuing between three men, who, it was believed, were carrying knives, on Lorne Street in Bolton.
“A number of witnesses had reported one of them as injured and the other two with balaclavas, who had made off from the scene on bikes.
“The injured man was taken to hospital where his injuries are described as being potentially life-changing.
“There have been no arrests. There is a scene in place whilst investigations continue to determine the facts of the case.”
Lorne Street was cordoned off from Egerton Street to Thynne Street, and Phethean Street was also taped off.
Forensics were on the scene throughout the day yesterday.
Nearby residents and employees have spoken about what took place.
One man who worked nearby and had his business shut due to the road closure said: “All I have heard is that somebody was stabbed this morning.
“He has splatted blood coming down the street and that is why forensics are there.
“It took place at 10am-ish.
“I think he was taken to hospital.”
Another woman was visiting her grandmother for her birthday who lives nearby.
She said: “The only thing that has been said is that somebody has been stabbed.
“Apparently they have been taken to hospital.
“They were stabbed on Lorne Street and made their way to Brentwood Drive.”
Mohammed Nawaz owns the nearby Bolton Superstore.
He said: “I came in at 1pm and heard that somebody had been stabbed.
“It is pretty worrying.
“I have had this place for six years and for most of the time there was nothing, a few thefts but nothing like this.”