JSFiddle - React, Tailwind, and code Playground
HTML
<div id="target">
foo / bar; baz<img src="/image.png">
</div>
JavaScript
var textNode = $("#target").contents().first();
var parts = textNode.text().split(/\s/);
var replaceWith = "";
for (var i =0; i < parts.length;i++) {
replaceWith += "<a href='http://www.google.com'>" + parts[i] + "</a> ";
}
textNode.replaceWith(replaceWith);