That depends on your perspective. If multiple levels of memory hierarchy are relevant (such as when scaling from 1 MiB to 1 GiB), you will see something resembling O(sqrt(n)). If you remain within the same level (e.g. from 1 GiB to 1 TiB), the scaling resembles O(log n) more closely. Or, in other words, it depends on whether you assume that cache size grows with n or is independent of it.
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That depends on your perspective. If multiple levels of memory hierarchy are relevant (such as when scaling from 1 MiB to 1 GiB), you will see something resembling O(sqrt(n)). If you remain within the same level (e.g. from 1 GiB to 1 TiB), the scaling resembles O(log n) more closely. Or, in other words, it depends on whether you assume that cache size grows with n or is independent of it.