To my knowledge, you can't really use a laser cutter interchangeably on different materials. Metal cutting is done with fiber lasers, which have very small beam sizes and have a wavelength of about 1 micrometer. However, you can't use them reliably to cut wood, because they penetrate much deeper into it and can burn material below the surface before the surface has vaporized. It also is highly variable in how much gets absorbed, so engraving does not produce consistent results either.
On the other hand, wood cutting is done with CO2 lasers which have a significantly longer wavelength of around 10 micrometers. This wavelength is absorbed very well by wood and most plastics, but is mostly reflected by metals. Additionally, the longer wavelength means that it cannot be focused to as small of a point, which reduces the maximum power.
Chip lasers would still be bound to the same wavelength limitations, so you couldn't cut both materials with the same laser. What you could do, though, is have a machine with two lasers - especially if they are very compact - and select which one to use depending on what material needs to be cut.
On the other hand, wood cutting is done with CO2 lasers which have a significantly longer wavelength of around 10 micrometers. This wavelength is absorbed very well by wood and most plastics, but is mostly reflected by metals. Additionally, the longer wavelength means that it cannot be focused to as small of a point, which reduces the maximum power.
Chip lasers would still be bound to the same wavelength limitations, so you couldn't cut both materials with the same laser. What you could do, though, is have a machine with two lasers - especially if they are very compact - and select which one to use depending on what material needs to be cut.