The incident took place on Laburnum Street, East Park, just before 20:30 GMT on Monday. West Midlands Police, under Det Ch Insp Dave Sanders, are conducting the investigation, which is progressing rapidly. The boys were arrested at their homes, and Seesahai's family is being updated on the investigation.
Paramedics attempted to save Seesahai at the scene but he succumbed to his injuries. The police are increasing patrols in the area, conducting door-to-door inquiries, and reviewing CCTV footage. The local community has expressed shock and concern for safety following the incident.
The police are appealing to anyone in the area at the time of the stabbing to come forward with any information. Pat McFadden, MP for Wolverhampton South East, shared his condolences with the victim's family and friends.