Water jets can do an awesome job of cutting composite materials, including carbon fiber and fiberglass.  Water jet cutting has the advantages of not creating dust and not creating heat among others.  And the CNC-controlled equipment can be masterful at putting finishing touches on composite parts.

From the video:

We were approached by a well known composites company and asked if we could cut through 130mm thick carbon fibre. This posed no problem for our equipment and the cut quality was so good that even though it was a show piece the cut part didn’t need any polishing.