The incident happened in Avebury Boulevard at about 2.25am Sunday 10th.
The victim, a 38-year-old man, was involved in an altercation with another man.
During this altercation, the victim was stabbed receiving two injuries to his upper body. The offender then fled the scene.
He was taken to hospital for treatment where he remains in a stable condition.
The offender is a white man who was wearing dark clothing. When he arrived at the scene he had a Santander hire bicycle, which he abandoned when he fled.
Investigating officer, Detective Constable Ian O’Bryne, based at Milton Keynes police station, says, “This was a serious assault which has resulted in the victim requiring hospital treatment.
“I would like to speak to anyone who witnessed this incident, or who has any information relating to it.
“If you have any details which you think could help our investigation, please call the Thames Valley Police non-emergency number on 101, quoting reference number 43190072900
Unconfirmed reports on social media suggest that the victim had tried to stop a fight in Browns at The Hub before the attack. The post on Facebook suggested that the victim was followed on the Santander bicycle towards Bistro Live before he was allegedly stabbed twice in the back. Reports to MKFM this morning said that the area near Sainsburys Argos head office was sealed off by police.