arXiv:2610.19565v1 Announce Type: new Abstract: The rapid growth of AI data centers introduces large, workload-dependent loads whose protection and reconnection behavior can affect power-system transient stability. Calibrating dynamic models of such loads is challenging because treating all associated elements as freely estimable may lead to weakly identified or physically confounded parameterizations. This paper proposes an identifiability-guided calibration framework for a composite load model with separate IT, cooling, and auxiliary branches. A nuisance-projected Fisher-information criterion characterizes the local identifiability of the cooling-motor composition, while a workload non-equivalence result shows that voltage-only recalibration cannot reproduce workload-dependent responses. Guided by these results, a grey-box estimator trained with branch-level supervision learns the workload-to-power relation and the cooling composition, while retaining a prescribed UPS protection law and an externally anchored reconnect-ramp duration. The learned workload relation is then distilled into a closed form for transient-stability simulation. Evaluation using 300,000 MIT Supercloud GPU power-utilization samples and 12,600 IEEE 39-bus fault scenarios yields an aggregate active-power $R^2$ of 0.948, compared with 0.856 for an LSTM baseline. Removing branch-level supervision preserves relatively high aggregate accuracy but substantially degrades cooling-component recovery. Under unseen deep voltage sags, the proposed model achieves a transient $R^2$ of 0.750, compared with 0.033 for the LSTM. Closed-loop simulations further show that cooling composition and protection behavior can affect retained-load states and voltage responses near protection thresholds.