I am interested in the asymptotics of $\newcommand{agm}{\operatorname{agm}}\agm(1,x)$ as $x\to\infty$, where $\agm$ is the arithmetic geometric mean. I know that
$$\sqrt x\le\agm(1,x)\le\frac{1+x}2$$
Thus, $\agm(1,x)\in\mathcal O(x)$. I then noticed that
$$\agm(1,x)=\agm\left(\sqrt x,\frac{1+x}2\right)=\sqrt x\agm\left(1,\frac{\sqrt x+\frac1{\sqrt x}}2\right)$$
For large $x$, I imagine that we have
$$\agm\left(1,\frac{\sqrt x+\frac1{\sqrt x}}2\right)\sim_\infty\agm\left(1,\frac{\sqrt x}2\right)$$
And if $\agm(1,x)\sim_\infty\alpha x^\epsilon$, then
$$x^\epsilon=x^{\frac12(\epsilon+1)}\\\epsilon=\frac12(\epsilon+1)\\\epsilon=1$$
Is this correct? And if so, how do I calculate $$\alpha=\lim_{x\to\infty}\frac{\agm(1,x)}x\ ?$$
It certainly appears to be the case that $\alpha<1$, though I cannot conclude much more than that.
Perhaps one might find the integral form to be useful:
$$\agm(1,x)=\frac\pi{2I(1-x^2)}$$
where
$$I(x)=\int_0^{\pi/2}\frac{dt}{\sqrt{1-x\sin^2(t)}}=\int_0^1\frac{dt}{\sqrt{(1-t^2)(1-xt^2)}}$$
For every $x>1$, $$\mathrm{agm}(1,x)=x\cdot\mathrm{agm}(1,x^{-1})=\frac{\pi x}{2K(u(x))}$$ where $$u(x)^2=1-x^{-2}$$ and $K$ denotes the complete elliptic integral of the first kind.
When $x\to\infty$, $u(x)\to1$. The asymptotic expansion of $K(k)$ when $k\to1$ reads $$K(k)=-\frac12\log|1-k|+O(1)$$ hence, when $x\to\infty$, $$\mathrm{agm}(1,x)=\frac{\pi x}{-\log|1-u(x)|+O(1)}=\frac{\pi x}{2\log x+O(1)}$$ in particular,