The Canadian's promoter Yvon Michel has said his condition is now "stable" after Stevenson was rushed to intensive care following the loss.
The 41-year-old boxer crashed to the deck in the eleventh after a lethal combination from the Ukrainian Olympic bronze medallist from the London 2012 games.
Stevenson was then taken to the hospital by ambulance and ended up in the intensive care unit in critical condition.
Michel has now updated his fans that the Canadian is recovering, and his condition "has gone from critical to stable".
He said in a statement: "The state of Adonis has gone from critical towards stable from yesterday to today which is a relatively good news.
"He is in controlled sedation to facilitate his recuperation.
"His family, his wife Simone and Groupe Yvon Michel would like to thank the many people who have taken the time to send comforting messages.
"New information will be published has we get it. No other comments will be made until then."
Stevenson lost his belt after five years, defending the title on nine occasions.
He was boxing's longest-reigning champion before defeating to unbeaten Gvozdyk in the second loss of his career.
The Ukrainian fought for a world title as a professional for the first time on Saturday, and now moved to a 16-0 record with 13 knockouts.
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