90125 is the eleventh studio album by the English progressive rock band Yes, released on 7 November 1983 by Atco Records. After Yes disbanded in 1981, following the Drama (1980) tour, bassist Chris Squire, drummer Alan White and Trevor Rabin (guitarist, singer, songwriter) formed Cinema, and began recording an album with original Yes keyboardist Tony Kaye, who had been fired in 1971. They adopted a more commercial and pop-oriented musical direction as the result of their new material, much of which derived from Rabin's demos. During the mixing stage, former Yes singer Jon Anderson, who had left in 1980, accepted an invitation to return and record the co-lead vocals, and subsequently Cinema became the new lineup of Yes.

Named for its Atco catalogue number, 90125 was released to a generally positive reception and introduced the band to a new generation of fans. It reached No. 5 on the US Billboard 200 and No. 16 on the UK Albums Chart, and remains their best selling album with several million copies sold in the US. Of the album's four singles, "Owner of a Lonely Heart" was the most successful and is their only song to top the US Billboard Hot 100 chart. "Cinema" earned the group a Grammy Award for Best Rock Instrumental Performance. Yes toured extensively for the album in 1984 and 1985, including two headline shows at the inaugural 1985 Rock in Rio festival. It was remastered in 2004 with previously unreleased bonus tracks.

In December 1980, the Yes line-up of bassist Chris Squire, guitarist Steve Howe, drummer Alan White, singer Trevor Horn, and keyboardist Geoff Downes, completed their 1980 tour in support of the band's tenth album, Drama. While the North American leg was largely successful, the subsequent UK leg received a mixed reaction feedback from the fans, many of whom were unaccepting of Horn and Downes as they had replaced Jon Anderson and Rick Wakeman respectively. The group disbanded in early 1981; Horn became a record producer, Howe and Downes co-formed the supergroup Asia, and Squire and White remained together and continued to write material, including their 1981 Christmas single "Run with the Fox". Later in 1981, the two entered sessions with Jimmy Page with the aim of forming a new band named XYZ, but the project was shelved over management differences and singer Robert Plant's dislike of the material. According to White, some ideas that the three had rehearsed ended up on 90125.

By 1982, South African guitarist Trevor Rabin had moved from London to Los Angeles, and sent a demo tape to various record labels with the intent of releasing a fourth solo album. During this time, Atlantic Records manager Phil Carson, a longtime fan and associate of Yes throughout the 1970s, sought new musicians to work with Squire and White, and was introduced to Rabin by producer Mutt Lange, whom Rabin used to work with as a session musician. Carson had Rabin meet and play with Squire and White in London. Rabin recalled the first sessions "didn't sound great but it felt good ... there was a lot of potential". This led to Rabin turning down a solo deal from RCA Records as he wished to work within a group context, especially with a "great rhythm section". The three entered rehearsals for an album using most of Rabin's demos, including "Owner of a Lonely Heart", "Hold On", and "Changes" which displayed a more commercial and pop-oriented direction and less complex in structure than previous Yes music. With such a direction, Squire recruited original Yes keyboardist Tony Kaye, who had left in 1971, feeling his simpler style of playing was more suitable to their new music. Horn followed suit as a potential lead singer, but after unsuccessful rehearsals, opted to become their producer. The four named themselves Cinema with the intent of establishing a new identity and to distance themselves from their Yes past.

Around six months into the album, Kaye left after clashing with Horn. Rabin saw it as "a mutual parting" as Kaye resisted learning the modern keyboard technology that the band were using, leaving Rabin to handle most of the keyboard parts. Matters were complicated further when management deemed Squire and Rabin's lead vocals not distinctive enough, so Carson suggested the group have Anderson return to sing the songs. Squire got in touch with Anderson, who had returned to England in April 1983 after working in France. They listened to the tape in Squire's car outside Anderson's home due to past acrimony between the pair's wives. Anderson liked the songs and got involved, making minor changes to the lyrics and arrangements. By this time the album had cost £300,000 to make, half of which came from Carson himself. With no more funds left to finish it, Carson flew to Paris and played the tape to Atlantic founder Ahmet Ertegun, who had signed Yes in 1969. Ertegun, interested in the prospect of a new album with Anderson on vocals, agreed to pay the remaining costs.

As the album neared completion, news reports in June and July 1983 indicate that Kaye, though he had played on it, was unsure whether to rejoin. The album was given the provisional title The New Yes Album, a reference to their third, The Yes Album (1971), but the group opted for an alternative name to distance themselves from Yes and decided upon its allocated catalogue number on their label Atco Records, a subsidiary of Atlantic. It was 90124 initially, but sleeve designer Garry Mouat said: "Because they couldn't get consistency worldwide with that number, it got changed to 90125. I've still got some rough tour t-shirts and sleeves with the original number."

After the band introduced themselves as Cinema on MTV, they received legal threats from other bands with the same name. This prompted Carson to suggest that they continue as Yes, as the group now consisted of four past Yes members. When Rabin, who wished the album to be judged in its own right, was eventually persuaded, work began on promotion and rehearsals with keyboardist Eddie Jobson, formerly of Roxy Music and U.K. (Duncan Mackay, formerly of Cockney Rebel and 10cc, was also considered for the position.) Jobson appeared in the video for "Owner of a Lonely Heart" and was reported in the press as a Yes member as late as November 1983; however, seeking to consolidate the band's legal identity as Yes, management came to an agreement with Kaye who returned after touring with Badfinger. Unimpressed with the change, citing "political problems" within the group, and having a lack of interest in sharing live duties with Kaye, Jobson left by early 1984.

Recording began in November 1982 at SARM Studios in London while the group was known as Cinema, with Horn as producer; "Hold On" was produced by Horn and Yes. Production was assisted by Gary Langan and Julian Mendelsohn, both of whom also worked on Drama, with Stuart Bruce and Keith Finney.