GET 1ST LETTER AFTER SPACE IN TEXT BOX

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I have 1000's of record in a database and I have one field as name and other as code now i want to replace all code with every 1st letter after space from name for example in name field

Manoj Sir Madan then replace code will be "MSM"

Suraj Bhai Bhanu then replace code will be "SBB"

Aayush Deepak Bhanu then replace code will be "ADB"

1st letter from start then every 1st letter after space I do not have code nor did I find any

Can any one help me with this

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