A 16-year-old boy suffered huge blood loss after he was stabbed multiple times in the early hours of yesterday.
Senior sources described the incident at a property in Carlow town as a "disagreement between friends".
Another 16-year-old boy, the only suspect in the case, is being treated in hospital after he was arrested close to the scene of the stab attack.
He did not receive any injuries in the stabbing incident.
It is understood the attack victim had been visiting his friend's home when the disagreement broke out.
An older female was also in the property at the time.
"These teenagers seem to have been watching TV when the row broke out," a senior source said.
"The victim received more than half a dozen stab wounds to his chest, arms and back," the source added.
Initially there were grave fears for the victim because of the amount of blood he lost but his condition stabilised after he received emergency medical treatment.
The incident happened in the Fairways estate in Carlow at 4.30am yesterday.
It is understood the victim managed to leave the attack scene on his own and walk a short distance before calling an ambulance himself.
He was then taken to St Luke's General Hospital in Kilkenny.
Gardaí sealed off the house and the suspect was arrested and brought to Carlow garda station before being transferred to hospital.