It's a immediately-invoked function - as soon as you declare it, it gets evoked.
The () syntax in Javascript means "call this function with whatever arguments are between ( and ). Since there isn't anything between the parentheses in your example, no arguments are supplied to the function call; but if you need to supply arguments, you can do something like this:
(function foo(arg1, arg2) {
alert(arg1 + " " + arg2);
})(3, 5);
Which will immediately call foo() and pass in 3 and 5 as the two arguments.